Jefferies Raises Price Target on Casey's General Stores (CASY) to $113 Following EPS Miss

Jefferies reiterated a Hold rating on Casey's General Stores (NASDAQ: CASY), and raised the price target to $113.00 (from $102.00), following the company's 4Q earnings report. CASY reported an EPS of $1.19, missing the Street's $1.22 consensus. Also, a lower tax rate added $0.05.

Analyst Christopher Mandeville commented, "CASY reported in-line(ish) 4Q16 EPS, but earnings quality was debatable as EBIT missed and a lower tax rate aided EPS by $0.05 vs. our ests. Notably, the F2017 guide failed to live up to investor expectations as we suspected. With guidance risk now behind us, we expect NT focus to shift to prep food comp progress given underwhelming results of late. We are cautiously optimistic trends will improve beginning in 2Q17."

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 $119.72 yesterday.

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