Market Overview

BTIG Initiates O'Reilly With A Buy, $310 Price Target

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BTIG Research's Alan Rifkin painted a mixed picture of the Auto Parts industry in a research note Wednesday afternoon. The analyst initiated coverage on shares of AutoZone, Inc. (NYSE: AZO) and O'Reilly Automotive Inc (NASDAQ: ORLY) with Buy ratings, and initiated shares of Advance Auto Parts, Inc. (NYSE: AAP) with a Sell recommendation.

Rifkin cited three main reasons for the O'Reilly Buy rating:

  1. consistent earnings growth;
  2. sector-leading long-term growth profile; and,
  3. strong industry dynamics.

"We believe O’Reilly will continue to
benefit from an aging automotive fleet of nearly 250 million cars and light
trucks, longer term increases in average miles driven, lower sustained gas
prices, and the low cyclicality of the automotive industry," Rifkin told BTIG clients.

 

Rifkin assigned a $310 price target on shares of O'Reilly.

Latest Ratings for ORLY

DateFirmActionFromTo
Sep 2019DowngradesBuyNeutral
Jul 2019MaintainsOverweight
Jul 2019MaintainsStrong Buy

View More Analyst Ratings for ORLY
View the Latest Analyst Ratings

Posted-In: Analyst Color News Price Target Initiation Analyst Ratings

 

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