Below is a brief note from CEO Keith McCullough on why we're adding O'Reilly Automotive (ORLY) to the long side of Investing Ideas today:
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One of my favorite S&P Sector Styles remains US Consumer Discretionary and I'm looking to buy corrections in names that are pure plays on US consumption growth. Recently Brian McGough "launched" new Institutional Research on Auto Parts Retail and O'Reilly Automotive (ORLY) was his Best Idea. Here's a summary excerpt from his Institutional Research note: "ORLY: Best Idea Long. Here’s the quality play, and the world knows that. But numbers are low, and the space is far more defendable than the consensus/market thinks. Key factors that are turning positive that have caused the current slowdown in sales, and it goes beyond Amazon and online competitors." KM |
