Jefferies Remains Sidelined on Casey's General Stores (CASY) Ahead of 1Q - PT to $137
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Jefferies reiterated a Hold rating on Casey's General Stores (NASDAQ: CASY), and raised the price target to $137.00 (from $113.00), ahead of the company's 1Q earnings report. Jefferies updated full year estimates to account for 1Q RIN strength and YTD fuel margins that have exceeded expectations.
Christopher Mandeville commented, "We raise F17 ests. on higher RIN and fuel margin assumptions, but remain cautious on the near-term given our work that shows 1Q prep food comps, the key sentiment driver in our view, will miss expectations (we est. 8.6% vs. 9.7% cons.). While fans of the name longer term, we see risk to CASY's peak multiple if a shortfall is realized and would await a valuation pullback before possibly becoming more constructive."
Shares of Casey's General Stores closed at $134.34 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Related EntitiesJefferies & Co, Earnings
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