Casey's General Stores' 3-Year Growth Plan Appears Achievable, RBC Says

MT Newswires Live06-25

Casey's General Stores (CASY) investor day reinforced the the company's target of 8% to 10% annual growth in earnings before interest, taxes, depreciation, and amortization through fiscal 2029 and its own forecast of growth near the midpoint of that range, RBC Capital Markets said in a Wednesday note.

Management's growth plan is supported by unit expansion, steady same-store sales growth and fuel margins in the mid-40-cent-per-gallon range, the analysts said, adding that the company's assumptions were largely in line with expectations and appear achievable.

RBC highlighted Casey's plan to add about 400 stores over the next three years through new openings and acquisitions, noting that the outlook excludes large-scale deals despite the company's financial flexibility to pursue strategic opportunities.

The firm said Casey's diversification initiatives, including food innovation, digital and loyalty programs, supply-chain improvements and AI applications, should support earnings growth while enabling continued investment in expansion, shareholder returns and potential acquisitions.

RBC maintained a Sector Perform rating on the stock and raised its price target to $850 from $794.

Shares of Casey's General Stores were up 2.3% in Thursday trading.

Price: 786.34, Change: -15.02, Percent Change: -1.87

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