Fastenal price target raised to $57 from $56 at Baird

Baird analyst David Manthey raised the firm’s price target on Fastenal to $57 from $56 and keeps a Neutral rating on the shares. The firm noted they reported a slight beat on better-than-feared gross margin and strong operating expense leverage which more than offset weaker March sales and said its valuation keeps them on the sidelines.