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Casey’s General Stores, Inc. (CASY) Draws Price Target Hikes From KeyBanc and RBC Capital
Yahoo Finance· 2026-02-07 13:15
Core Viewpoint - Casey's General Stores, Inc. (NASDAQ:CASY) is recognized as one of the best long-term low-risk stocks to invest in, with positive outlooks from multiple financial institutions [1]. Group 1: Price Target Increases - KeyBanc Capital Markets raised its price target for Casey's General Stores to $680 from $650, maintaining an Overweight rating due to an improving business outlook [2]. - RBC Capital Markets also increased its price target to $662 from $591 while keeping a Sector Perform rating, citing stronger gas margins and stable demand as key factors supporting their positive view [3]. Group 2: Financial Performance - The company's diluted earnings per share reached $5.53, with net income rising to $206 million, reflecting a 14% year-over-year increase for both metrics [4]. - EBITDA for the company was reported at $410 million, marking a 17.5% increase compared to the previous year [4]. Group 3: Business Operations and Strategy - Continued strength in prepared foods and dispensed beverages was noted, with positive customer responses to new menu items and promotional activities [5]. - Improvements in grocery and general merchandise margins were attributed to higher store traffic and effective merchandising strategies [5]. - The disciplined execution of the fuel strategy, along with a strong in-store offering, resulted in a fourth consecutive quarter of growth in fuel gallons sold [5]. Group 4: Company Overview - Casey's General Stores operates approximately 2,900 convenience stores across 19 states, providing self-service fuel, everyday grocery items, and a wide selection of freshly prepared food [6].