Wells Fargo Rates Casey's General Stores (CASY) buy

Wells Fargo has reiterated its buy rating on Casey's General Stores, raising the price target to $960, a 9.71% upside from the current price.

By TradeTexts Research Desk · Published Jun 12, 2026, 9:13 PM EDT · Updated Jun 16, 2026, 1:01 PM EDT

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Wells Fargo rated Casey's General Stores, Inc. ($CASY) "buy" with a $960 price target on June 11, 2026.

Since the rating, $CASY is down 8.1% after 1 week, down 6.2% after 1 month and down 24.7% to date (from the $915.59 close on Jun 11, 2026).

CASY Casey's General Stores, Inc.

$689.22 +24.20% year to date

Daily close · Oct 16, 2026

Key Points

On June 11, 2026, Wells Fargo reiterated its buy rating on Casey's General Stores, Inc. (NASDAQ: CASY), setting a new price target of $960.00.
Wells Fargo's $960 price target implies 9.71% upside from Casey's General Stores, Inc.'s ($CASY) current $875.01 share price.
The stock is currently trading at $875.01, reflecting a significant gap from Wells Fargo's new target price.
Casey's General Stores has a market cap of approximately $21.63 billion and a P/E ratio of about 28.18.

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Wells Fargo Adjusts Price Target for Casey's

On June 11, 2026, Wells Fargo reiterated its buy rating on Casey's General Stores, Inc. (NASDAQ: CASY) and raised its price target to $960.00 from a prior target of $750.00. The stock closed at $875.01 on the same day, indicating a gap of about $84.99 to reach the new target.

What's New in Wells Fargo's Position

Wells Fargo's latest rating suggests a strong belief in Casey's growth potential. Since this is not a new position but rather a confirmation of their existing stance, it highlights the firm's confidence in the company's future performance.

Institutional Insights

No other institutional funds reported changes in their positions regarding Casey's General Stores in this period. This lack of peer activity might suggest that Wells Fargo's actions are driving the narrative around the stock.

Stock Performance Analysis

Casey's stock is currently trading at $875.01, which is significantly above the 52-week low of $497.38 but below its recent high of $927.85. This stock is showing resilience in the consumer cyclical sector as it navigates through varying market conditions.

12-month forecast

$CASY price target

Casey's General Stores, Inc. daily closes and this analyst's $960 target. Not advice.

Recent Earnings

For the fiscal year, Casey's General Stores reported a revenue of $18.67 billion, showing a revenue growth of 24.3%. The company's earnings per share (EPS) stood at $20.77, with a net margin of 4.1% and a return on equity (ROE) of about 19.98%. Casey's next earnings report is scheduled for December 8, 2026.

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 U.S., selling a variety of products including food, beverages, and motor fuel. It has a well-established presence in the specialty retail segment, which is vital as consumer behavior shifts towards convenience.

What to Watch at Casey's General Stores, Inc.

Investors will be looking ahead to Casey's upcoming earnings date on December 8, 2026, as this could further impact analyst sentiments and stock performance. Remember that this analysis reflects Wells Fargo's position as of June 11, and market conditions may evolve.