Analyst Kelly Bania from BMO Capital maintained a Hold rating on Casey’s General and increased the price target to $540.00 from $515.00.
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Kelly Bania has given his Hold rating due to a combination of factors including Casey’s General’s strong performance and high valuation. The company has shown impressive results with solid same-store sales growth and increased customer traffic, which are supported by strong digital growth and effective execution. However, despite these positive indicators, the stock’s valuation is already at peak levels, reflecting high investor expectations.
While there are potential catalysts such as the launch of new product offerings and improvements in fuel profitability, these have not yet materialized significantly enough to alter the current outlook. Additionally, although the integration of recent acquisitions is on track, the full benefits are expected to be realized in the future. Given these considerations, Bania remains cautious, opting for a Hold rating until further developments justify a more optimistic stance.
In another report released yesterday, Goldman Sachs also maintained a Hold rating on the stock with a $490.00 price target.
Based on the recent corporate insider activity of 40 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CASY in relation to earlier this year.