UBS Raises the Price Target on O'Reilly Automotive (ORLY) to $275 Following 2Q Results
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Rating Summary:
21 Buy, 18 Hold, 0 Sell
Rating Trend: Down
Today's Overall Ratings:
Up: 20 | Down: 14 | New: 22
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UBS reiterated a Buy rating on O'Reilly Automotive (NASDAQ: ORLY), and raised the price target to $275.00 (from $245.00), following 2Q results. ORLY reported 2Q EPS of $2.40 vs. consensus $2.26. Analyst Michael Lasser characterized this quarter from ORLY as a good company finding ways to do good things.
Lasser commented, "We would characterize this quarter from ORLY as a good company finding ways to do good things. Its 7.2% comp surely had to encompass share gains as the sector data didn't grow that fast, nor did NAPA (ex. FX). That's not to say the lower oil prices aren't providing some help to the aftermarket because this driver is probably helping. But, ORLY really saw no slowdown from 1Q on a straight basis or a multi-year stack despite gas prices rising sequentially. Its commentary from the release and its 3Q guidance suggest that it has maintained the momentum into the current period. We think this will keep a strong foundation under the stock."
For an analyst ratings summary and ratings history on O'Reilly Automotive click here. For more ratings news on O'Reilly Automotive click here.
Shares of O'Reilly Automotive closed at $241.71 yesterday.
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