O’Reilly Auto Parts #ORLY is an American auto parts retailer that provides automotive aftermarket parts, tools, supplies, equipment, and accessories in the United States serving both the professional service providers and do-it-yourself customers.
💡 Oppenheimer upgrades its recommendation on O'Reilly Auto #ORLY to buy and believes the company looks attractive despite its not cheap valuation and provides investors with an excellent opportunity as the sector strengthens.
👉🏻 Oppenheimer continues to assess the outlook for the consumer sector after the pandemic ends and they are increasingly optimistic about the aftermarket-oriented auto parts sales.
The reason for this is the potential increase in the number of vehicle owners, traffic and resumption of commercial activity, will allow the market to compensate to some extent the effects of adverse factors in the short term and support its return to the original trend or even higher in the coming years.
💎 Shares of O'Reilly Auto Parts #ORLY are consolidating above the support level around $ 440-450, the upward movement is likely to continue.
🎯 Target price - $ 555, upside potential + 23%.
OTB Global Investments
14 December 2020