As previously reported, Northcoast upgraded O'Reilly Automotive to Buy from Neutral with a $230 price target. Analyst Nicholas Mitchell said shares are down over 40% in the past year and believes the slowdown in same-store-sales to start the year was a result of lackluster consumer demand and not a dramatic shift to ecommerce. Mitchell believes O'Reilly is still capable of posting 4% annual same-store-sales growth over the intermediate term and would be aggressive in repurchasing shares at these depressed levels
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