In This Article:
Stifel lowered the firm’s price target on Fastenal (FAST) to $82 from $86 and keeps a Hold rating on the shares. Despite the Q4 revenue and AEBITDA miss, the shares traded up on optimism for higher growth and margin improvement in FY25. Even if the industrial macro environment remains depressed at current levels, Fastenal’s market share gains support mid-single digit revenue growth versus the slow 2.7% year-over-year growth reported in FY24, Stifel adds. The mid-single digit pace could accelerate to high single-digit or better when the macro demand improves, but timing of a FY25 recovery remains elusive, the firm argues.
Invest with Confidence:
-
Follow TipRanks' Top Wall Street Analysts to uncover their success rate and average return.
-
Join thousands of data-driven investors – Build your Smart Portfolio for personalized insights.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on FAST: