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UPDATE: Stifel Initiates Coverage On Fastenal Company On Compelling Long-Term Growth Story

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In a report published Friday, Stifel analyst Robert McCarthy initiated coverage on Fastenal Company (NASDAQ: FAST) with a Buy rating and $56.00 price target.

In the report, Stifel noted, “We are initiating coverage of Fastenal Company (FAST) with a Buy rating on the shares and a 12-18 month target price of $56 (20x our $2.25 FY16E EPS estimate) indicating 22% potential upside. With $3.3 billion in 2013 sales and close to 2,700 locations, Fastenal is one of the largest U.S.-based industrial distributors. We view FAST as one of the most compelling long-term growth stories in the industrial sector, with a strong history of organic growth and earnings delivery. We believe the company's recent foray into vending could lead to substantial upside in earnings power.”

Fastenal Company closed on Thursday at $46.04.

Latest Ratings for FAST

DateFirmActionFromTo
Jul 2019MaintainsNeutral
Jul 2019MaintainsMarket Perform
Jul 2019MaintainsStrong Buy

View More Analyst Ratings for FAST
View the Latest Analyst Ratings

Posted-In: Robert McCarthy StifelAnalyst Color Initiation Analyst Ratings

 

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