Casey’s Price Targets Raised to $680 and $662 as Q4 EPS Hits $5.53
KeyBanc hiked Casey’s price target to $680 from $650 while RBC lifted it to $662 from $591, keeping overweight and sector perform ratings. Q4 EPS reached $5.53, net income hit $206 million (+14% YoY) and EBITDA rose to $410 million (+17.5% YoY) on stronger gas margins and food sales.
1. Price Target Increases
On January 26, KeyBanc Capital Markets raised Casey’s price target to $680 from $650 and maintained an Overweight rating. On January 23, RBC Capital Markets lifted its target to $662 from $591 while retaining a Sector Perform rating, citing improved gas margins and stable demand.
2. Q4 Financial Performance
Casey’s reported diluted earnings per share of $5.53 and net income of $206 million, representing a 14% year-over-year increase. EBITDA for the quarter reached $410 million, up 17.5% compared to the prior year.
3. Operational Drivers
Strength in prepared foods, dispensed beverages and grocery margins, supported by new menu items and promotions, drove in-store growth. Disciplined fuel strategy delivered a fourth consecutive quarter of fuel gallons growth across its network of approximately 2,900 stores in 19 states.