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.
基準分析師約翰·勞倫斯重申了買入評級凱西百貨公司(納斯達克：CASY)，將目標價上調至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.
分析師上調的目標股價是基於25財年每股收益13.00美元的新估計，因為分析師預計管理層將繼續執行其獨特的增長模式。
The stock currently trades at 22x the FY24 estimate of $12.15 and 21x the new $13.00 estimate for FY25.
該股目前的股價是2014財年預估12.15美元的22倍，是25財年13.00美元新預估的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.
勞倫斯寫道，這種模式包括穩健的單位增長、高於平均水準的燃油利潤率，以及在降低成本結構下的店內改進。
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.
憑藉強勁的資產負債表，為更積極的部門增長戰略提供資金，這位分析師認為，隨著未來幾年故事的展開，成長型投資者將獲得回報。
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.
這位分析師補充說，管理層已表示希望在2024年實現150個單位的增長，其中包括對EG Group的63個單位的收購，這筆交易應在2023年底前完成。
The longer-term goal is to add 350 locations over the next three years.
較長期的目標是在未來三年增加350家門店。
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.
根據勞倫斯的說法，公司的運營費用預計在25財年增加6%，因為管理層在控制費用、減少營業額和減少整個業務的工作時間方面做了紮實的工作。
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.
這位分析師指出，CASY存在規模機會，使該公司能夠收購現有運營商，實施CASY食品計劃，並在整個足跡範圍內提供回報。
New product innovations such as BBQ Brisket Pizza, Ultimate Beer Cheese Breakfast Pizza, and Thin Crust Pizza continue to drive the business.
燒烤早餐披薩、旗艦啤酒芝士早餐披薩和薄殼披薩等新產品創新繼續推動著業務的發展。
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，分析師對2015財年的預測假設燃油利潤率略低，為0.37美元，店內利潤率超過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，燃料利潤率每變化50個基點，對25E財年的影響約為0.25美元。
Price Action: CASY shares are trading lower by 1.27% to $268.43 on the last checked Thursday.
價格行動：上週四，凱西的股價下跌了1.27%，至268.43美元。
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譯文內容由第三人軟體翻譯。