KeyBanc raised the firm’s price target on Casey’s General Stores (CASY) to $860 from $830 and keeps an Overweight rating on the shares. The firm sees upside to fuel margins in the quarters ahead, as well as an updated long-term algo likely similar to its last investor day. KeyBanc thinks the sector remains well-positioned to benefit from consolidation, near-term and long-term upside in fuel margins, nicotine mix shift to alternative products, and growth in prepared food and energy drinks.
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