BMO Capital Raises Price Target on Casey's General Stores (CASY) to $118

September 9, 2016 9:13 AM EDT
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Price: $115.16 +0.69%

Rating Summary:
    12 Buy, 4 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 50 | New: 20
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BMO Capital reiterated a Market Perform rating on Casey's General Stores (NASDAQ: CASY), and raised the price target to $118.00 (from $115.00), following unexpected comp headwinds.

Analyst Kelly Bania commented, "CASY's unexpected merchandise comp slowdown was disappointing, but CASY is not as immune to broader pressures as we had expected. We view the company's maintenance of its Grocery & Other "Goals" may be optimistic in light of headwinds. Tweaking EPS and maintain Market Perform rating. We lower our target back to $118, which assumes an 18-19x P/E multiple (down from 20x prior) on our revised F2018E EPS."

For an analyst ratings summary and ratings history on Casey's General Stores click here. For more ratings news on Casey's General Stores click here.

Shares of Casey's General Stores closed at $119.82 yesterday.

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