Casey's General Stores (CASY) PT Raised to $342 at Jefferies, 'Inside Sales Growth Remains Key Driver'

Jefferies analyst Corey Tarlowe raised the price target on Casey's General Stores (NASDAQ: CASY) to $342.00 (from $315.00) while maintaining a Buy rating.

The analyst comments "Although 3Q CPG declined Y/Y, Prepared Foods and Grocery revenue increased. Additionally, GM expanded and the bottom line beat. Looking ahead, our CPG thesis of higher for longer remains intact. Marginal players continue to be pressured on volumes and are looking for price increases as an offset. This is pressuring c-store industry EBITDA and making it attractive for those with scale, like CASY, to grow through M&A. PT to $342."

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