Brokerages raise Fastenal PT after Q2 earnings beat estimates
Brokerages including Jefferies and J.P. Morgan raise their price targets on industrial supplies distributor Fastenal FAST.O
Co on Monday beat Q2 earnings estimates, helped by higher demand for its safety supplies
Jefferies says co's growth driven by favorable product mix and customer targetting
FAST is moving away from retail to focus on bigger customers, which is helping long-term growth, even though it has slightly lowers margins - Jefferies
Brokerage lifts 2025 adjusted EPS forecast to $1.10 from $1.05, reiterates 'hold' rating
Shares slip 0.1% to $45 in premarket
Average of 16 brokerages rate the stock equivalent to "hold"; median PT is $42.95 - data compiled by LSEG
As of last close, stock was up 25.35% YTD
Brokerages | New PT | Old PT |
Jefferies | $45 | $39 |
Stephens | $45 | $40 |
J.P. Morgan | $41 | $38 |
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