Casey’s General Stores price target raised to $400 from $305 at BMO Capital

BMO Capital analyst Kelly Bania raised the firm’s price target on Casey’s General Stores to $400 from $305 but keeps a Market Perform rating on the shares. The company’s Q4 results and FY25 guidance highlighted the resilience of Casey’s model, especially in light of weakening data points across the convenience-store industry, as the management’s decisions around pricing through the cycle, store simplification, and innovation of prepared foods is clearly helping to bolster Casey’s competitive advantages, the analyst tells investors in a research note. Despite impressive trends however, the firm remains at neutral as the stock’s multiples are now “solidly above pre-COVID levels, BMO added.