Barclays Reiterates an 'Overweight' on O'Reilly Automotive (ORLY); Analyst Day Focuses on Solid Growth and Continued Efficiency Opportunities

Barclays reiterates an 'Overweight' on O'Reilly Automotive (NASDAQ: ORLY) price target of $71.00.

Barclays analyst says, "Management maintained its financial targets for 3Q and FY 2011. We are maintaining our estimates and price target. In our opinion, valuation is attractive, as growth opportunities remain ample and the company continues to focus on productivity. Shares are currently trading at 16x our 2012 EPS estimate. Our $71 price target is based on a P/E multiple of 17x our 2012 EPS estimate of $4.20. ORLY remains a top pick of ours, as we strongly endorse the low cyclicality of the autoparts industry."

For more ratings news on O'Reilly Automotive click here and for the rating history of O'Reilly Automotive click here.

Shares of O'Reilly Automotive closed at $65.15 yesterday.

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