Stephens cuts Fastenal PT following two-for-one stock split

Fastenal

29/05/2025 12:29

** Stephens cuts Fastenal FAST.O price target to $40 from $80, a downside of 3.6% to the stock's last close, rating unchanged at 'equal-weight'

** Says reason for construction supllier's PT change driven by two-for-one stock split that happened earlier this month

** Stephens cuts adj 2025 EPS forecast to $1.09 from $2.18

** Shares are up nearly 1% at $42 in premarket trading

** Three of 16 brokerages rate the stock strong buy, eleven "hold" and two "sell"; their median PT is $39 - data compiled by LSEG

** As of last close, stock had risen 15% YTD

 (Reporting by Apratim Sarkar)

 ((Apratim.Sarkar@thomsonreuters.com))