Gabelli Rates O'Reilly Automotive At Buy (ORLY)

Gabelli & Co. has a Buy rating on shares of O'Reilly Automotive ORLY. In the research report, Gabelli says, "Shares fell $3 yesterday as 1Q comp guidance of 3-5% fell below expectations. We would expect lost sales to be recovered throughout the remainder of the quarter and regard mgmt as conservative. Auto aftermarket tailwinds remain, though we note that comp store hurdles become increasingly difficult throughout 2011. We continue to believe ORLY shares are attractively valued at 8x 2012E EBITDA and 15x EPS. FY12 PMV estimate of $77." Shares of ORLY closed at $55.25 yesterday.