O’Reilly Automotive price target raised to $1,149 from $1,080 at Truist

Truist raised the firm’s price target on O’Reilly Automotive to $1,149 from $1,080 and keeps a Buy rating on the shares. The company’s Q4 results were “solid” in spite of difficult comparisons, though its FY24 outlook was “largely in-line with investor expectations”, driving some post-earnings profit taking, the analyst tells investors in a research note. Truist adds however that it remains bullish on the auto parts industry and believes that the needs-based demand structure and long-term tailwinds will continue to drive solid trends.