Loop Capital raised the firm’s price target on Fastenal (FAST) to $47 from $45 and keeps a Hold rating on the shares. The company put up an even stronger Q2 result than the firm had previewed with its recent survey work, with operating margin expanding 80bps, the analyst tells investors in a research note. Ongoing market share gains are expected to continue, and combined with incremental price increases, Fastenal expects to deliver double-digit sales growth through the second half, the firm added.
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Read More on FAST:
- Fastenal price target raised to $47 from $43 at Baird
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