KeyBanc last night initiated coverage of Casey’s General Stores (CASY) with an Overweight rating and $500 price target The convenience store industry remains highly fragmented, supporting a favorable 5- to 10-year runway for consolidation in the sector, the analyst tells investors in a research note. The firm believes the industry also has little direct tariff risk and exhibits insulation from recession risk. Casey’s is differentiated through its pizza offering, the analyst tells investors in a research note.
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