Wells Fargo reiterated an Overweight rating and $540 price target on Casey’s General Stores (CASY), saying the company delivered another impressive, near-clean beat in a lackluster backdrop on a balanced combination of fuel/inside and continues to provide support for a premium multiple. Momentum is likely good into August with the stage set for a guidance raise, the analyst tells investors in a research note. The firm added that while the strong print leaves little to pick at, the bar is high at over 30x EPS.
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