Casey's General Stores (NASDAQ: CASY) Price Target Raised by Goldman Sachs Despite "Neutral" Rating

Font: Financial Modeling Prep  • Jun 10, 2026

• Goldman Sachs raised its price target for Casey's General Stores (NASDAQ: CASY) to $695 from $605, while maintaining a "Neutral" rating for the convenience store chain.
• The company reported record financial results, including its highest-ever diluted earnings per share (EPS) of $19.16, representing a 31% increase year-over-year, and quarterly revenue of $4.57 billion.
• Despite a significant 20.29% single-day stock price jump to $915.60, the analyst's new price target of $695 remains below the current trading price, suggesting that recent gains may already be priced into the stock.

On June 10, 2026, analyst firm Goldman Sachs raised its price target for Casey's General Stores (NASDAQ: CASY) to $695 from $605. Casey's General Stores operates a chain of convenience stores across the United States, primarily selling fuel, groceries, and prepared foods like pizza. The firm kept its "Neutral" rating, suggesting investors should hold their current positions.

This rating update follows a period of record-breaking financial results for Casey's General Stores. As highlighted by GuruFocus, the company achieved its highest-ever diluted earnings per share (EPS) of $19.16. EPS is a key measure that shows the company's profit per outstanding share of stock. This represents a 31% increase over the prior year.

The company's strong performance is driven by growth across its business. Total inside sales grew by 10.2%, while sales at existing stores increased by 4.2%. The fuel segment also saw its gross profit, the profit made before operating costs, increase by 21% as the company sold 10% more fuel gallons.

As highlighted by Benzinga, Casey's General Stores reported quarterly revenue of $4.57 billion, surpassing analyst estimates. In response to this strong performance, the company is increasing its dividend by 14% and expanding its share repurchase program. It also plans to open at least 120 new stores in the next fiscal year.

Despite the positive results and a 20.29% single-day stock price jump to $915.60, the analyst price target of $695 remains well below the current trading price. This difference may explain the "Neutral" rating, as it suggests the stock's recent gains have already priced in the strong performance.