UPDATE: Bank of America Raises PT on Casey's General Stores from $47 to $49

Bank of America has published a research report on Casey's General Stores (NASDAQ: CASY) raising the price target.

In the report, Bank of America wrote, "We are upgrading CASY to Buy (from Neutral) given our outlook for solid merchandise comps supported by the company's major remodel program, accelerated store growth goals, & an improving in-store margin outlook. We are raising our PO to $49 (from $47) based on 14x our F13E EPS of $3.50."

Bank of America rated Casey's General Stores a BUY with a price target raised from $47.00 to $49.00. Casey's General Stores closed Wednesday at $41.33.