In a report published Friday, Stifel analyst Robert McCarthy initiated coverage on Fastenal Company (NASDAQ: FAST) with a Buy rating and $56.00 price target.
In the report, Stifel noted, “We are initiating coverage of Fastenal Company (FAST) with a Buy rating on the shares and a 12-18 month target price of $56 (20x our $2.25 FY16E EPS estimate) indicating 22% potential upside. With $3.3 billion in 2013 sales and close to 2,700 locations, Fastenal is one of the largest U.S.-based industrial distributors. We view FAST as one of the most compelling long-term growth stories in the industrial sector, with a strong history of organic growth and earnings delivery. We believe the company's recent foray into vending could lead to substantial upside in earnings power.”
Fastenal Company closed on Thursday at $46.04.
Latest Ratings for FAST
| Dec 2014 | Stifel Nicolaus | Initiates Coverage on | Buy | |
| Oct 2014 | Susquehanna | Downgrades | Positive | Neutral |
| Oct 2014 | Credit Suisse | Maintains | Neutral |
View More Analyst Ratings for FAST
View the Latest Analyst Ratings
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