Casey's General Stores (CASY) PT, Est. Lowered at Jefferies on Weak Prep Food Comps

October 31, 2016 8:37 AM EDT
Get Alerts CASY Hot Sheet
Price: $122.49 +1.38%

Rating Summary:
    12 Buy, 4 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 28 | Down: 20 | New: 17
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Jefferies analyst Christopher Mandeville lowered estimates and his price target on Casey's General Stores (NASDAQ: CASY) to $128.00 (from $134.00) after noting weak prep food comps. However, the firm maintained a Buy rating.

Mandeville commented, "CASY released an 8-K noting weak 2Q17 prep food comps vs. Street expectations. While N-T valuation will likely remain pressured, investors should take consolation in the fact that comps ex price/cal. shifts stabilized. L-T, we continue to like the name given already attractive valuation vs. a 10-12% EBITDA CAGR, BS optionality, and our view that prep food comps will improve further in 2H17. Reiterate Buy, but lower PT to $128 due to updated ests."

The firm cut Q4 EPS from $1.60 to $1.47, FY 16 EPS from $5.62 to $5.24 and FY 17 EPS from $6.40 to $6.10.

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 $115.16 yesterday.



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