RBC Capital analyst Scot Ciccarelli raised his price target on O'Reilly Automotive to $319 and kept his Outperform rating as part of his broader bullish research note on auto parts retail names, saying that favorable weather after a harsh winter/spring and easing headwinds could allow for upside potential in the industry. Ciccarelli adds that his model for O'Reilly Automotive now assumes a 20-times forward twelve-month earnings multiple vs. 17.5-times prior, which is a premium of 15% relative to the market but still below the company's 30% historical premium margin.
Check out this evening's top movers from around Wall Street, compiled by The Fly. HIGHER AFTER EARNINGSImpinj (PI) up... To see the rest of the story go to thefly.com. See Story Here