Jefferies analyst Stephen Volkmann upgraded Fastenal (FAST) to Buy from Hold with a price target of $52, up from $45. The firm cites its increased confidence in the company’s ability to post low-double-digit sales growth into 2026 for the upgrade. Fastenal’s growth will be driven market share growth resuming and positive pricing, with potential upside from an end market recovery, the analyst tells investors in a research note. Jefferies expects Fastenal’s share gains to continue on increased large account penetration and the benefit of vending installations over the past 12-18 months.
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