UPDATE: Goldman Sachs Downgrades Casey's General Stores (CASY) to Neutral Citing Full Valuation

June 22, 2021 1:19 AM EDT
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Price: $195.15 +1.28%

Rating Summary:
    10 Buy, 10 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 18 | Down: 12 | New: 23
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(Updated - June 22, 2021 1:19 AM EDT)

Goldman Sachs analyst Bonnie Herzog downgraded Casey's General Stores (NASDAQ: CASY) from Buy to Neutral with a price target of $215.00 (from $240.00).

The analyst comments "We lower our target multiples slightly to reflect increased near-term cost pressures specifically around OpEx led primarily by new unit additions. Risks include: COVID-19 resurgence causes longer than anticipated restrictions on self-service, loss of commuter travel/traffic thereby adversely impacting CASY’s overall margins and ability to deliver on its mid-term growth strategy; New in-store growth initiatives (e.g., increased private label mix, digital engagement, self-serve kiosks, contactless delivery, curb-side pickup) do not gain momentum; Economic conditions impacting the Midwest farming economy deteriorate leading to prolonged pressure on jobs and discretionary spending among CASY’s core customers."

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 $201.89 yesterday.


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