Fastenal price target raised to $76 from $72 at Morgan Stanley

Morgan Stanley analyst Christopher Snyder raised the firm’s price target on Fastenal to $76 from $72 and keeps an Equal Weight rating on the shares. Operations are improving behind self-help initiatives, but the firm believes this is already reflected in estimates and the stock’s valuation, the analyst tells investors. The firm is keeping FY25 and FY26 EPS estimates largely unchanged at $2.16 and $2.35, respectively, the analyst noted.