Anthony Bonadio, an analyst from Wells Fargo, maintained the Buy rating on Casey’s General (CASY – Research Report). The associated price target remains the same with $455.00.
Anthony Bonadio has given his Buy rating due to a combination of factors that suggest potential growth and resilience for Casey’s General. Despite some anticipated short-term challenges, such as potential softness in fuel margins and weather-related headwinds, Bonadio sees these as largely priced into the stock. He expects positive developments from the integration of Fikes, which could enhance Casey’s market position and drive future gains.
Bonadio acknowledges the possibility of a near-term earnings miss, but he views this as temporary noise against a backdrop of a strong mid-term growth narrative. The stock’s recent pullback and increased short interest suggest a lower bar for buy-side expectations, making it an opportune time to buy. Overall, Bonadio believes that the company’s strategic initiatives and market share capture will support its performance, warranting a Buy rating.