JP Morgan Maintains Neutral on Fastenal, Raises Price Target to $72
Portfolio Pulse from Benzinga Newsdesk
JP Morgan analyst Patrick Baumann maintains a Neutral rating on Fastenal and raises the price target from $70 to $72.
October 14, 2024 | 2:43 pm
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JP Morgan has maintained its Neutral rating on Fastenal but increased the price target from $70 to $72, indicating a slightly more positive outlook.
The increase in price target suggests a slightly more optimistic view on Fastenal's future performance, which could positively influence investor sentiment and lead to a short-term price increase. However, the Neutral rating indicates that the analyst does not expect significant outperformance.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100