Fastenal downgraded to Hold from Buy at Stifel

Stifel downgraded Fastenal (FAST) to Hold from Buy with an unchanged price target of $86. The stock is within 7% of the target price and has priced in the majority of a flat-to-positive macro environment for fiscal 2025, the analyst tells investors in a research note. At Fastenal’s current valuation Stifel believes the stock is close to fully valued with limited upside.