Wall Street Pro Thinks Casey’s General Stores Stock Will Continue to Soar

• Casey’s General Stores (CASY) expanded fuel margins to 41.0 cents per gallon in Q3 FY2026, driving total fuel gross profit up 15.3% to $348.2 million, while its Rewards program surpassed 10 million members and powered inside same-store sales growth of 4.0% with margin expansion of 130 basis points to 42.2%. The company targets at least 80 new store openings in FY2026 and has delivered 26 consecutive years of dividend increases with the most recent raise at 14%.

• Moderating crude oil prices and expanding convenience store profit margins from fuel volatility position Casey’s for durable earnings growth, though margin pressures from its chicken wings expansion and elevated valuation at 33.56x forward P/E create near-term headwinds.

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Casey’s General Stores (NASDAQ:CASY) has been a standout performer, with shares up 6.22% over the past week, 3.82% over the past month and 27.35% year-to-date. Over the trailing 12 months, the stock climbed 66.29%, recently touching a 52-week high of $721.50.

The Street consensus target sits at $722.03 with a “Moderate Buy” rating. JPMorgan analyst Thomas Palmer initiated coverage at Neutral with a $719 price target — roughly 10% upside from the stock’s recent range near $714. Whether CASY can realistically reach $719 by end of 2026 depends on several key drivers.

Palmer’s thesis centers on a clear tailwind: Convenience stores should see profit tailwinds for multiple quarters from recent fuel price volatility. Casey’s fuel margin expanded to 41.0 cents per gallon in Q3 FY2026, up from 36.4 cents per gallon in the prior year, driving total fuel gross profit up 15.3% to $348.2 million. Palmer also flags Casey’s push into chicken wings will likely bring margin headwinds in its Prepared Foods business, tempering his enthusiasm enough to stay at Neutral despite the constructive setup.

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1. Fuel margin expansion: With WTI crude moderating to $64.51 per barrel in February 2026 versus $75.74 a year earlier, Casey’s fuel economics remain favorable. Sustained margin per gallon above 40 cents compounds directly into EBITDA growth, which management has guided at 18% to 20% for FY2026 — raised from a prior range of 15% to 17%.

2. Inside sales momentum and loyalty scale: Casey’s Rewards has surpassed 10 million members, powering inside same-store sales growth of 4.0% in Q3 FY2026. Inside margin expanded roughly 130 basis points to 42.2%. This loyalty-driven repeat traffic supports durable, compounding revenue for long-term investors.

3. Store expansion and acquisition integration: Casey’s is targeting at least 80 new store openings in FY2026 and approximately 500 total store additions over its three-year plan. The company has also delivered 26 consecutive years of dividend increases, with the most recent dividend raise at 14%.