Fastenal price target raised to $38 from $36 at JPMorgan

JPMorgan raised the firm’s price target on Fastenal (FAST) to $38 from $36 and keeps a Neutral rating on the shares. The firm updated December 2025 U.S. distributor price targets to reflect an increased group multiple. Despite expected higher pricing in second half of 2025, most distributors did not include much in their outlooks, the analyst tells investors in a research note.