BMO Capital analyst Kelly Bania raised the firm’s price target on Casey’s General Stores (CASY) to $540 from $515 and keeps a Market Perform rating on the shares. The company’s Q1 results remained solid with positive high-single-digit 2-yr stack comps, low single digit traffic growth and solid quarter-to-date momentum heading into Q2, the analyst tells investors in a research note. While there are several catalysts that could support the forward momentum however, BMO remains sidelined for now largely given valuation and high investor expectations, the firm added.
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