O'Reilly Automotive (ORLY) PT Raised to $1,275 at DA Davidson
DA Davidson analyst Mike Baker raised the price target on O'Reilly Automotive (NASDAQ: ORLY) to $1,275.00 (from $1,200.00) while maintaining a Buy rating.
The analyst comments "In a quarter that was very similar to last quarter, ORLY did miss estimates but we think continues to navigate the soft and softening consumer environment adeptly. We suspect that comps will outpace competitors, showing continued market share gains as well as strong margin trends despite the weaker environment. Unlike last quarter, the company did lower their full year plan as the macro pressures continue. But, the stock is holding up well despite the year not showing the upside that many investors have grown accustomed to for ORLY. This makes sense to us as looking through the near term volatility in favor of the long term share gains, earnings growth, investor returns and consistency has been a money making strategy. We reiterate our Buy rating and are tweaking up our price target to $1,275 from $1,200 supported by our discounted cash flow analysis."