Brokerages raise Fastenal PT after Q2 earnings beat estimates

Fastenal

15/07/2025 12:02

** Brokerages including Jefferies and J.P. Morgan raise their price targets on industrial supplies distributor Fastenal FAST.O

** Co on Monday beat Q2 earnings estimates, helped by higher demand for its safety supplies

** Jefferies says co's growth driven by favorable product mix and customer targetting

     ** FAST is moving away from retail to focus on bigger customers, which is helping long-term growth, even though it has  slightly lowers margins - Jefferies

** Brokerage lifts 2025 adjusted EPS forecast to $1.10 from $1.05, reiterates 'hold' rating

** Shares slip 0.1% to $45 in premarket

** Average of 16 brokerages rate the stock equivalent to "hold"; median PT is $42.95 - data compiled by LSEG

** As of last close, stock was up 25.35% YTD

Brokerages
New PT
Old PT
Jefferies
$45
$39
Stephens
$45
$40
J.P. Morgan
$41
$38

 (Reporting by Apratim Sarkar)

 ((Apratim.Sarkar@thomsonreuters.com))