Fastenal price target raised to $75 from $69 at Stifel

Stifel raised the firm’s price target on Fastenal to $75 from $69 and keeps a Buy rating on the shares following the company’s Q4 report. While FY23 had a mix of macro challenges, Fastenal produced better-than-expected sales, EBITDA and free cash flow growth, says the analyst, who sees FY24 as set up for 0%-2% price growth and 5% or better market share gains.