UPDATE: JPMorgan Downgrades O'Reilly Automotive (ORLY) to Neutral

(updating comment)

JPMorgan analyst Christopher Horvers downgraded O'Reilly Automotive (NASDAQ: ORLY) from Overweight to Neutral with a price target of $415.00 (from $490.00).

The analyst comments "We are downgrading ORLY to Neutral from Overweight based on our mounting concerns on a record warm winter, moderating consumer, fading inflation tailwinds (topline and gross margin), and valuation. Moreover, weak trends to start the year should “fast forward” investor concerns for 2H20 when inflation will moderate to an estimated 100-150-bp tailwind (with risk lower should category demand slow)."

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 $419.88 yesterday.

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