UPDATE: Morgan Stanley Maintains Overweight on O'Reilly Automotive; Lowers PT from $110 to $106
Morgan Stanley reiterated an Overweight rating on O'Reilly Automotive (NASDAQ: ORLY) and lowered its price target from $110 to $106.
Morgan Stanley noted, “We decrease our target to $106 and lower EPS estimates following 2Q results, but remain bullish. Industry growth has slowed in 2Q and early 3Q, but we continue to expect ~3% normalized industry growth in '13-'15. Further, drivers for 3-5% comps and 16-19% EPS growth are intact.”
O'Reilly Automotive closed at $86.97 on Thursday.
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.