Casey’s General Stores price target lowered to $775 from $880 at Evercore ISI

Evercore (EVR) appointed Nigel Dawn and Naveen Nataraj as Co-Presidents, effective Jan 1, 2027. CEO John S. Weinberg will remain Chairman and CEO for at least three years, according to the company.

RBC Capital upgraded Casey’s General Stores (CASY) to Outperform, lowering its price target to $825 from $910. The firm cited the company’s positioning in lower-cost geographies, differentiated offerings, and reasonable valuation. The stock has declined 11% over six months. Analysts have mixed reactions, with some lowering price targets due to valuation concerns and fuel margin worries.

Several stocks, including Evercore (EVR), FirstCash (FCFS), Blackstone (BX), and Atlanticus Holdings (ATLC), fell after September consumer price inflation data exceeded expectations, raising concerns about Federal Reserve interest rate hikes. The data showed headline inflation at 3.7% annually and core inflation at 2.6%, increasing the probability of a rate hike to 44%. This triggered market volatility and pushed Treasury yields higher, impacting various sectors.

Casey's General Stores Inc. acquired ASAP Energy Inc., a 20-store chain in Oklahoma, including its wholesale and fuel businesses. The purchase follows Casey's recent $1.145 billion acquisition of Fikes Wholesale, Inc. Casey's plans to rebrand and remodel the acquired stores, with CEO Darren Rebelez noting a 30% lift in performance at remodeled locations. The company also plans to open 120 new stores in 2026, focusing on small towns.

Jim Cramer commented on Casey's General Stores (CASY) and Texas Roadhouse (TXRH), noting oil prices are affecting both. CASY's fuel margins rose to 47.8 cents per gallon, but future earnings may be pressured. TXRH faces cost inflation, with commodity and labor costs up 7% and 3.9%, respectively. Both companies reported recent financial improvements.

Evercore ISI raised its Apple AAPL price target to $380, citing strong consumer interest in premium iPhone 18 models and other Apple products. The firm's survey showed 53% of respondents plan to buy iPhone 18 Pro or Pro Max, up from historical averages. Apple shares are near record highs, trading around $337.