Casey’s General Stores price target raised to $290 from $270 at BMO Capital

BMO Capital raised the firm’s price target on Casey’s General Stores to $290 from $270 and keeps an Outperform rating on the shares after its Q1 earnings beat. The firm’s estimates shift meaningfully higher on an upward revision to high-30s retail fuel cent-per-gallon margins longer term, up from mid-30s prior, even though its valuation multiple shifts slightly lower as there may be less fuel margin upside than previously expected, the analyst tells investors in a research note. BMO is raising its FY24 EPS view to $12.07 from $10.80 and its FY25 view to $13.60 from $12.35.