Deutsche Bank Reiterates a 'Buy' on O'Reilly Automotive (ORLY); Pricing Study Analysis – Raising Numbers

Deutsche Bank reiterates a 'Buy' on O'Reilly Automotive (NASDAQ: ORLY) price target raised from $70 to $77.

Deutsche analyst says, "For this quarter and next, we are raising our estimates by $0.01 each and are now $0.01 ahead of consensus due to a better gross margin outlook. Our comp estimate stays at 3.8%, at the high end of guidance and considers more difficult comparisons and lower miles driven in July. For 2012, we are increasing our estimate to $4.29 from $4.20 and are now $0.20 ahead of consensus, with changes including higher gross margins and more buybacks."

"We believe ORLY’s higher growth rate justifies the higher multiple. The biggest risk is higher gas prices, increased new car sales and integration issues with the CSK acquisitions."

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 $68.56 yesterday.

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