BMO Capital Raises Price Target on Casey's General Stores (CASY) to $118
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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."
Shares of Casey's General Stores closed at $119.82 yesterday.
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