Casey's Solid Unit Growth, Reduced Cost Structure In Focus: Analyst's Specific Recommendation For Growth Investors
Casey's Solid Unit Growth, Reduced Cost Structure In Focus: Analyst's Specific Recommendation For Growth Investors
Benchmark analyst John Lawrence reiterated a Buy rating on Casey's General Stores, Inc. (NASDAQ:CASY), raising the price target to $312.
基准分析师约翰·劳伦斯重申了买入评级凯西百货公司(纳斯达克：CASY)，将目标价上调至312美元。
The analyst's raised price target is based on the new FY25 EPS estimate of $13.00, as the analyst expects the management to continue to execute its unique growth model.
分析师上调的目标股价是基于25财年每股收益13.00美元的新估计，因为分析师预计管理层将继续执行其独特的增长模式。
The stock currently trades at 22x the FY24 estimate of $12.15 and 21x the new $13.00 estimate for FY25.
该股目前的股价是2014财年预估12.15美元的22倍，是25财年13.00美元新预估的21倍。
Lawrence writes that the model consists of solid unit growth, above-average fuel margins, and improvements inside the store under a reduced cost structure.
劳伦斯写道，这种模式包括稳健的单位增长、高于平均水平的燃油利润率，以及在降低成本结构下的店内改进。
With a strong balance sheet to fund a more aggressive unit growth strategy, the analyst believes growth investors will be rewarded as the story unfolds over the next few years.
凭借强劲的资产负债表，为更积极的部门增长战略提供资金，这位分析师认为，随着未来几年故事的展开，成长型投资者将获得回报。
Management has indicated the desire to grow by 150 units in 2024, which includes the 63-unit EG Group acquisition, which should close by the end of 2023, the analyst adds.
这位分析师补充说，管理层已表示希望在2024年实现150个单位的增长，其中包括对EG Group的63个单位的收购，这笔交易应在2023年底前完成。
The longer-term goal is to add 350 locations over the next three years.
较长期的目标是在未来三年增加350家门店。
According to Lawrence, the company's operating expenses are assumed to increase by 6% during FY25 as management has done a solid job of controlling expenses, reducing turnover, and eliminating labor hours across the business.
根据劳伦斯的说法，公司的运营费用预计在25财年增加6%，因为管理层在控制费用、减少营业额和减少整个业务的工作时间方面做了扎实的工作。
The analyst notes that scale opportunities exist for CASY, allowing the company to make acquisitions of existing operators, implement the CASY food program, and provide returns across the footprint.
这位分析师指出，CASY存在规模机会，使该公司能够收购现有运营商，实施CASY食品计划，并在整个足迹范围内提供回报。
New product innovations such as BBQ Brisket Pizza, Ultimate Beer Cheese Breakfast Pizza, and Thin Crust Pizza continue to drive the business.
烧烤早餐披萨、旗舰啤酒芝士早餐披萨和薄壳披萨等新产品创新继续推动着业务的发展。
On the flip side, the analyst's FY25 estimate assumes a slightly lower fuel margin of $0.37 with an inside store margin of over 42%.
另一方面，分析师对2015财年的预测假设燃油利润率略低，为0.37美元，店内利润率超过42%。
In terms of sensitivity, a 50 basis point change in fuel margins impacts FY25E by approximately $0.25.
在敏感性方面，燃料利润率每变化50个基点，对25E财年的影响约为0.25美元。
Price Action: CASY shares are trading lower by 1.27% to $268.43 on the last checked Thursday.
价格行动：上周四，凯西的股价下跌了1.27%，至268.43美元。
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