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Fly News Breaks for June 12, 2018
ORLY
Jun 12, 2018 | 07:33 EDT
Wells Fargo analyst Zachary Fadem raised his price target for O'Reilly Automotive to $320 from $295, while reiterating an Outperform rating on the shares. The analyst believes auto part retailers remain under-owned, as investor concerns around eventual online disruption continues to overshadow what he believes to be improving 2018 results. Relative valuations remain well below 5/10-year means, yet Fadem sees a favorable consumer environment, solid industry footing and a manageable competitive landscape.
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