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Analysts raise estimates for O’Reilly Auto

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Stock analysts on Thursday raised their estimated target price for Springfield-based O’Reilly Automotive Inc. to $43 from $40 after learning of the company’s strong first-quarter growth.

In a research note, analysts at Robert W. Baird also maintain their “outperform” rating on O’Reilly, according to Newsratings.com.

Analysts commented on O’Reilly’s strong first-quarter growth, reported Tuesday, which caused the company to increase its earnings-per-share guidance for 2007 to between $1.73 and $1.80, from $1.71 and $1.78.

Company shares (Nasdaq: ORLY) closed Thursday at $36.38, compared to a 52-week range of $27.49 to $38.84. Shares jumped by nearly $2 Wednesday after the earnings report was released, closing that day at $36.92.

A week ago, former company President Charles O’Reilly sold 21,173 shares of common stock under a prearranged trading plan, according to an Associated Press report. He reportedly sold the shares April 18 and 19 for $34 each.

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