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Fly News Breaks for January 31, 2020
ORLY
Jan 31, 2020 | 06:21 EDT
JPMorgan analyst Christopher Horvers downgraded O'Reilly Automotive to Neutral from Overweight with a price target of $415, down from $490. The analyst's concerns are mounting around the record warm winter, moderating consumer spending, fading inflation tailwinds, and valuation. Weak trends to start the year should "fast forward" investor concerns for the second half of 2020 when inflation will moderate to an estimated 100-150 basis point tailwind, Horvers tells investors in a research note.
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