AZO, ORLY: Less Upbeat On Auto Parts Retail

Oppenheimer assumes a less upbeat stance on auto parts retail. Oppenheimer downgrades AutoZone (AZO) and O’Reilly Automotive (ORLY), noting that pandemic-related tailwinds are likely to continue to fade. The analyst highlights that the current street forecasts appear largely reasonable. Jeff Pierce discusses this and the outlook for the auto parts retail sector. Oppenheimer is more hard-pressed to envision multiples for shares climbing meaningfully from current levels. Tune in to find out more about the stock market today.