William Blair analyst Ryan Merkel has maintained their bullish stance on FAST stock, giving a Buy rating on December 15.
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Ryan Merkel has given his Buy rating due to a combination of factors centered on Fastenal’s leadership continuity and strategic direction. He views the planned transition to Jeffrey Watts as CEO in 2026 as a positive, orderly move that has been clearly communicated to investors, minimizing uncertainty. Watts’ long tenure at Fastenal and broad leadership background, including his role as president since 2024, signal that the company will retain and build on its existing strengths rather than undergo disruptive change.
Merkel also takes confidence from Watts’ instrumental role in the company’s recent strategic refresh, which suggests he is closely aligned with the current growth agenda. Watts’ familiarity with Fastenal’s sales culture and operations underpins expectations for a smooth handoff from current CEO Dan Florness, who will remain involved as a strategic advisor for a transition period. Collectively, these governance and execution factors support Merkel’s view that Fastenal is well positioned for continued operational success, justifying his Buy recommendation on the stock.
In another report released on December 15, Jefferies also upgraded the stock to a Buy with a $52.00 price target.