Truist analyst Scot Ciccarelli raised the firm’s price target on O’Reilly Automotive to $1,204 from $1,143 and keeps a Buy rating on the shares. The company’s Q2 earnings miss saw sequentially steady Commercial growth but slightly softer DIY sales, and its FY24 guide was slightly lowered given the modestly slower trends across the industry, the analyst tells investors in a research note. O’Reilly continues to gain share however, and the industry growth will “inevitably reaccelerate”, the firm added.
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- O’Reilly Automotive cuts FY24 EPS view to $40.75-$41.25 from $41.35-$41.85
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