Fastenal price target raised to $77 from $74 at Baird

Baird analyst David Manthey raised the firm’s price target on Fastenal to $77 from $74 and keeps a Neutral rating on the shares. The firm’s checks suggest most end markets, products and geographies saw sequential improvement, but overall growth remains fairly lackluster given weak ISM readings and slow US industrial production, which Baird expects to improve ahead.