RBC Capital raised the firm’s price target on O’Reilly Automotive to $988 from $975 and keeps an Outperform rating on the shares. The company’s Q2 results were “fundamentally sound”, with 9% comps delivering on the “lofty” expectations, the analyst tells investors in a research note. O’Reilly Auto’s market share gains are accelerating and the management is being appropriately prudent with their margin guide, the firm adds.
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