Casey's General Stores Inc

CASY: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$175.00	Dktffbs	Fqdpqkqnd

Higher Expenses Hamper Casey's Bottom Line in 4Q, but We See Potential From its Higher Margin Goods

Jun 13, 2012

Casey's CASY reported fourth-quarter results that did not meet consensus expectations on the bottom line, which has been driving its stock price downward in early trading and is now fairly valued, in our opinion. Despite flat earnings per share growth, we remain encouraged by the firm's top-line performance and potential for improvement, particularly with its in-the-store items. As a result, we will be maintaining our fair value estimate of $54 per share.

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