12:49 PM EDT, 03/12/2024 (MT Newswires) -- Casey's General Stores (CASY) fiscal Q3 results highlight the resilience of the company's business model and the sector, RBC Capital Markets said in a note emailed Tuesday.

Gas margins remained sustainable for Casey, while operating cost and volume pressures pushed volumetric margins upward, according to the note.

Prepared food led inside store performance and put the company as a "strong value-conscious home meal solution," RBC added.

Casey's same-store operating expenditure increased by 2.5% as it works on optimizing labor scheduling, the investment firm noted.

The company's results are in line with sector peer Murphy USA (MUSA), which also saw solid margin performance in backcourt and forecourt, offset by slow gas volumes and inside store sales.

The investment firm increased the price target on Casey to $305 from $296, and reiterated sector perform rating.

Price: 298.18, Change: -0.58, Percent Change: -0.19