The Fly

Casey’s General Stores price target raised to $260 from $245 at Wells Fargo

Wells Fargo analyst Anthony Bonadio raised the firm’s price target on Casey’s General Stores to $260 from $245 and keeps an Overweight rating on the shares. Fuel upside may finally be on the wane, as Casey’s looks set-up for a Q2 beat, but the analyst expects better inside performance to lead the way. Fuel profits should remain robust but upside to consensus looks minimal, while consensus inside the store leaves room for a modest beat given positive read-throughs and idiosyncratic tailwinds, Bonadio adds. He skews cautiously on costs given continued wage pressure at peers and across retail, but a more dramatic improvement in the quarter could take the stock higher.

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