Analyst Upgrade Fuels Optimism for O’Reilly Automotive Shares

O’Reilly Automotive shares received a significant boost following a prominent analyst upgrade. Raymond James elevated its rating for the auto parts retailer from “Market Perform” to “Outperform,” simultaneously establishing a price target of $105. This positive reassessment comes in the wake of the company’s strong quarterly performance and ambitious expansion strategy.

The company’s recent financial report provided compelling evidence for the upgraded outlook. O’Reilly Automotive delivered earnings per share of $0.85, representing a 12% year-over-year increase and surpassing the $0.83 consensus estimate. Revenue reached $4.71 billion, also exceeding analyst projections of $4.69 billion. Management maintained its full-year guidance range of $17.6 to $17.8 billion.

Despite these robust figures, the stock experienced a Read more...