BMO Capital reiterated a Market Perform rating and $118.00 price target on Casey's General Stores (NASDAQ: CASY) following the company's 2Q earnings report. CASY reported EPS of $1.44. This was below the consensus estimate of $1.59. Total gross profit was $18mm below forecasts, with roughly half from weaker-than-expected merchandise gross profit and nearly half from lower-than-forecast retail fuel CPG margins.

Analyst Kelly Bania commented, "CASY reported F2Q17 EPS of $1.44 compared to our forecast of $1.68 and consensus of $1.59. Weaker-than-forecast comps along with lower-than-forecast gas margins were the primary drivers relative to our estimate. We rate CASY shares Market Perform with a $118 price target."

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Shares of Casey's General Stores closed at $124.22 yesterday.