Melius Research Raises PT on Casey's General Stores from $560 to $600, Maintains Buy Rating

Casey’s General Stores, Inc. (NASDAQ:CASY) is one of the 10 Best Grocery Stocks to Buy According to Hedge Funds. On August 27, Melius Research raised the price target on Casey’s General Stores, Inc. (NASDAQ:CASY) from $560 to $600, maintaining its Buy rating.

Melius Research upgraded the price target on CASY ahead of the Q1 FY2026 earnings release scheduled on September 8, 2025. Wall Street expects Casey’s General Stores to post earnings per share of $5.06, up 4.76% from $4.83 a year ago. The company is expected to post revenue of around $4.48 billion, up by 9.33% year-over-year.

Casey’s FY2026 outlook indicates an increase in EBITDA of around 10% to 12%, while it expects inside same-store sales to grow between 2% to 5% from a year ago. The company plans to open almost 80 stores in FY2026, through a mix of mergers and acquisitions and new store construction. This follows the company’s three-year strategic plan to expand its presence to almost 500 stores. Considering strong growth prospects, Melius Research remains optimistic on CASY.

Casey’s General Stores, Inc. (NASDAQ:CASY), through its subsidiaries, operates almost 2,900 convenience stores in the U.S. The company offers groceries, freshly prepared food, and self-service fuel.

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Disclosure: None. This article is originally published at Insider Monkey.