FAST - Fastenal Poised For Growth With Onsite Service Digital Solutions: Analyst Predicts Double-Digit Annual FCF Expansion In Years | Benzinga
Stifel analyst Michael E. Hoffman reiterated a Buy rating on Fastenal Company (NASDAQ: FAST), raising the price target to $66 from $61.
The analyst writes that FAST has demonstrated it can be nimble, and its digital strategy, while structurally lowering gross margin, has driven operating income leverage.
The company has weathered the inventory destocking and repricing with better FCF and more stable profitability than many seers predicted, the analyst adds.
According to Hoffman, if the macro backdrop is at least less worse, if not outright at a turn to the better, and if so, it ...