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UBS Raises Casey’s (CASY) Target; Wells Fargo Highlights Strong Q3 Momentum

2 months ago 15

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Casey’s General Stores, Inc. (NASDAQ:CASY) is included among the 14 High Growth Dividend Paying Stocks to Invest in Now.

UBS Raises Casey’s (CASY) Target; Wells Fargo Highlights Strong Q3 Momentum

UBS Raises Casey’s (CASY) Target; Wells Fargo Highlights Strong Q3 Momentum

On March 11, UBS raised the firm’s price recommendation on Casey’s General Stores, Inc. (NASDAQ:CASY) to $706 from $600. It maintained a Neutral rating on the shares.

The same day, Wells Fargo raised its price objective on CASY to $745 from $725 and maintained an Overweight rating. The firm acknowledged that the shares are “not cheap,” but added that “quality this good is hard to find.” It pointed to a “sizable” Q3 earnings beat, higher guidance that suggests upside in Q4, “healthy” February same-store sales and margin trends, and “positive” early results from wings store testing.

During the fiscal Q3 2026 earnings call, CFO Stephen Bramlage said total revenue came in at $3.91 billion, up $12 million, or 0.3%, from the prior year. He said the increase was driven by stronger inside sales and higher fuel volumes, though lower retail fuel prices offset some of that growth. Gross profit reached $1.01 billion, rising $94 million, or 10.3%, year over year. Inside gross profit margin improved to 42.2%, up 130 basis points from the same period last year.

Bramlage also noted that net interest expense declined as the company paid down debt tied to the Fikes transaction. During the quarter, the company repurchased $76 million of its shares.

Casey’s General Stores, Inc. (NASDAQ:CASY) operates about 2,900 convenience stores across 19 states. Its locations offer self-service fuel, grocery items, and a range of freshly prepared food options.

While we acknowledge the potential of CASY as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 40 Most Popular Stocks Among Hedge Funds Heading into 2026 and 14 Quality Stocks with Highest Dividends

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