Fastenal price target raised to $49 from $42.50 at BofA

BofA raised the firm’s price target on Fastenal (FAST) to $49 from $42.50 and keeps a Buy rating on the shares. The company beat consensus on sales, gross margin, and operating margin, the analyst tells investors in a research note. The stock trades at a large premium to peers, which reflects better operational performance that will continue, BofA argues.