RBC Capital Upgrades Casey's General Stores (CASY) to Sector Perform on NOrmalized Valuation

RBC Capital analyst Irene Nattel upgraded Casey's General Stores (NASDAQ: CASY) from Underperform to Sector Perform with a price target of $162.00.

The analyst comments "Our prior Underperform rating on CASY had been predicated on valuation with shares trading well above our assessment of fair value, using normalized multiples. With shares now trading below our fundamental price target, we are revising our rating to Sector Perform. Near-term earnings will be buffeted by lower oil prices (+) and COVID-19- related demand disruption (+ and -), although fuel demand destruction is likely lower than in other regions of the US."

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 $137.16 yesterday.

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