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Fly News Breaks for March 22, 2016
AZO, ORLY
Mar 22, 2016 | 06:20 EDT
Oppenheimer analyst Brian Nagel upgraded O'Reilly Automotive (ORLY) to Outperform saying the Aftermarket Auto Parts Retail market represents a "clear bright spot" in the current consumer spending environment. The analyst highlights higher miles driven, a still aging U.S. auto fleet and improving prospects for lower-income consumers. He put a $300 price target on shares of O'Reilly. Nagel also raised his price target for AutoZone (AZN) to $900 from $800 and reiterates an Outperform rating on the shares.
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