Casey’s General Stores initiated with a Neutral at JPMorgan

JPMorgan analyst Thomas Palmer initiated coverage of Casey’s General Stores (CASY) with a Neutral rating and $719 price target Convenience stores should see profit tailwinds for multiple quarters from recent fuel price volatility, the analyst tells investors in a research note. The firm says Casey’s shares trade at elevated multiples while the company’s push into chicken wings will likely bring margin headwinds in its Prepared Foods business.