Wedbush analyst Seth Basham raised the firm’s price target on O’Reilly Automotive to $940 from $920 and keeps a Neutral rating on the shares given elevated valuation and margin improvement on sales strength. The firm notes O’Reilly reported solid Q2 results that were about in line with buy side expectations on the top line but missed on the bottom line, while the company’s updated FY23 guidance disappointed with only a small increase to sales and EPS and no margin improvement.
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