Casey's General Stores (CASY) PT Raised to $403 at RBC Capital

RBC Capital analyst Irene Nattel raised the price target on Casey's General Stores (NASDAQ: CASY) to $403.00 (from $393.00) while maintaining a Sector Perform rating.

The analyst comments "F25 off to a solid start for CASY with FQ1 EPS $4.83, +7% Y/Y and ~7% above consensus $4.52, outperformance driven largely by fuel reflecting marginally stronger than expected gallons and CPG. Inside store Gross Profit $$ ex-"other" as forecast. SS Opex growth well controlled at +0.7%, no update to F25 guidance on KPIs pending closing of the Fikes acquisition later in CY2024. Raising our EPS forecasts by 3% in F25/F26, PT to $403 (+$10), SP rating reflects relative valuation/ implied upside."

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