CASY Stock Heads For Worst Week In 17 Years: Why Analysts See Buying Opportunity In Casey's Despite Slashing Price Targets

Analysts say lower expectations and valuation create an attractive entry point for Casey’s.

• KeyBanc lowered its price target, citing softer sales and fuel margins, but viewed the selloff as a buying opportunity. 
• BMO cut its CASY price target to $810 from $950, while Stephens lowered it to $750 from $975. 
• Bank of America still sees 39% upside, maintaining confidence in the convenience-store operator. 

Casey’s General Stores Inc. (CASY) stock is heading for its worst week in seventeen years and is facing a wave of Wall Street price-target cuts after its fiscal first-quarter (Q1) 2027 results triggered a sharp stock selloff, although analysts remain broadly constructive on the convenience-store operator’s longer-term outlook.

Casey’s General Stores stock inched 0.3% higher overnight Thursday. The stock has plunged about 17% so far this week. 

Casey’s Valuation Now Looks More Attractive

KeyBanc reduced its price target on CASY to $780 from $970 while retaining an ‘Overweight’ rating, still implying a 24% upside to the stock’s last close. The firm cited a modest slowdown in in-store sales and expects recent fuel-margin gains to become less pronounced, limiting the pace of earnings growth for the remainder of fiscal 2027.

KeyBanc said the stock’s decline has removed some of the excess valuation built into expectations. Shares now trade at roughly 26.7 times the firm’s revised fiscal 2028 earnings estimate, bringing the company back to valuation levels that the analyst considers appealing for investors putting fresh money to work.

BMO Sees A Reset In Casey’s 

BMO Capital cut its price target on CASY to $810 from $950 and maintained a ‘Market Perform’ rating. The firm noted that Casey’s exceeded Q1 earnings expectations while customer traffic and two-year comparable sales trends remained healthy. BMO argued that the recent decline has brought expectations back to more reasonable levels.

Stephens lowered its price target to $750 from $975 but kept an ‘Overweight’ rating. The Q1 earnings beat benefited from better fuel margins, while weaker inside-store comparable sales and lower fuel volumes disappointed investors. 

Stephens analyst said the steep decline was “more of a reflection or a multiple that was priced for near-perfect execution rather than a material change in the company's earnings trajectory."

BofA Remains Bullish On Casey’s 

Bank of America lowered its price target to $875 from $975 and retained a ‘Buy’ rating, still implying a 39% upside. The firm continues to regard Casey’s as “a top tier convenience/retail operator,” but adjusted its earnings forecasts to account for short-term uncertainty and changing valuation expectations across the category.

Casey’s Q1 revenue of $5.6 billion and earnings of $7.37 per share beat the analysts' consensus estimates of $5.55 billion and $6.74, respectively, according to Fiscal.ai data. 

CASY Stock: Retail View 

On Stocktwits, retail sentiment around the stock remained in ‘extremely bullish’ territory. 

CASY stock has gained over 13% year-to-date.

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