Evercore ISI Group Rates Casey's General Stores (CASY) buy

Evercore ISI Group has maintained its buy rating on Casey's General Stores, setting a price target of $990, a 16.40% upside from the current price.

By TradeTexts Research Desk · Published Jun 12, 2026, 9:11 PM EDT · Updated Jun 18, 2026, 9:01 AM EDT

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Evercore ISI Group rated Casey's General Stores, Inc. ($CASY) "buy" with a $990 price target on June 12, 2026.

Since the rating, $CASY is down 7.1% after 1 week, down 4.0% after 1 month and down 22.9% to date (from the $894.47 close on Jun 12, 2026).

CASY Casey's General Stores, Inc.

$689.22 +24.20% year to date

Daily close · Oct 16, 2026

Key Points

Evercore ISI Group reiterated its buy rating on Casey's General Stores, Inc. (CASY) with a price target of $990, while the stock is currently trading at $850.5.
Evercore ISI Group's $990 price target implies 16.40% upside from Casey's General Stores, Inc.'s ($CASY) current $850.50 share price.
The company reported revenue of $18.67 billion and a net margin of 4.1%, reflecting strong financial performance.
Casey's General Stores has a P/E ratio of 28.2 and a dividend yield of 0.44%, indicating its ongoing attractiveness to investors.

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Evercore Maintains Positive Outlook for Casey's General Stores

Evercore ISI Group has reiterated its buy rating on Casey's General Stores, Inc. (CASY) with a price target of $990. This comes as the stock trades at $850.5 on June 12, 2026. The firm, represented by analyst Michael Montani, sees continued growth potential in the company's business model.

Why the Reiteration Matters

The rating reflects confidence in Casey's performance as it continues to operate in the competitive consumer cyclical sector. This is particularly relevant given the company's recent financial results, which include a revenue of approximately $18.67 billion and a net margin of 4.1%. These figures suggest that Casey's is well-positioned to capitalize on market opportunities.

Analysts Set New Price Targets

In addition to Evercore's rating, other analysts have provided insights that highlight a mixed but generally positive outlook for Casey's. For instance, on October 15, 2026, RBC Capital upgraded its rating to Outperform with a target of $825, down from $910. Meanwhile, Raymond James also upgraded its rating to Outperform with a target of $750 on September 10, 2026. These varying targets reflect differing views on the stock's potential within the specialty retail space.

Stock Performance Context

Casey's stock is currently trading at $850.5, which is above its 50-day moving average of $790.01, suggesting recent positive momentum. However, it remains below its 52-week high of $927.85, indicating there may still be room for growth.

12-month forecast

$CASY price target

Casey's General Stores, Inc. daily closes and this analyst's $990 target. Not advice.

Recent Earnings

Casey's General Stores reported revenue growth of 24.3% year-over-year, with earnings per share (EPS) at $20.77. This robust performance showcases the company's ability to manage costs and drive sales effectively. The next earnings report is scheduled for December 8, 2026, which investors will be watching closely.

Earnings drift grade

Outlook vs expectations on the last report — not price action.

B- 72/100

Reported Jun 9, 2026

Forward outlook
8 analysts raised price targets.
EPS & revenue
EPS beat estimates by 30.0%. Revenue beat estimates by 4.2%.
Profit surprise
EBITDA missed by 24 percent. Operating income missed by 37 percent.
Pre-earnings setup
Expectations were about average.
Analyst signal
8 target raises.
Earnings quality
Gross margin up 2.8 points. Operating margin down 1.3 points. Positive free cash flow.

Earnings Call Summary

Casey's delivered a strong second quarter with revenue of $4.57 billion, up 14 percent year over year, driven by inside sales growth and fuel gallons. The company gained market share in fuel despite a regional decline of 2 percent, benefiting from strong prepared food sales, particularly whole pies and breakfast items. Inside margins improved 20 basis points to 42.4 percent, with prepared food margins of 58.6 percent. Management credited consistent execution, a strong guest value proposition, and improved cost management including lower cheese costs. Traffic increased 1.5 percent, and the company is on track with Cefco integration, planning store conversions to start in the new calendar year.

Guidance Casey's raised its full-year EBITDA growth outlook to 15 to 17 percent, up from prior expectations. Inside same-store sales are now guided to grow 3 to 4 percent, with inside margins expected to be 41 to 42 percent. The company also expects the tax rate to be 24 to 25 percent.

Slightly positive report. The quarter was acceptable, but the forward setup is not strong.

What Casey's General Stores, Inc. Does

Casey's General Stores operates convenience stores across the United States, offering a variety of products from pizza to fuel. With over 23,000 employees, the company has established a strong presence in the specialty retail industry, making it a significant player in the consumer cyclical sector.

What’s Next for Casey's

Investors will be looking forward to the upcoming earnings report on December 8, 2026, for further insights into the company's financial health. The recent reiteration of the buy rating by Evercore ISI serves as a reminder of the stock's potential for growth, although the 13F filings will provide a clearer picture of institutional interest in the future.