12:24 PM EDT, 06/10/2025 (MT Newswires) -- Casey's General Stores (CASY) is earning its "valuation premium" with its unit growth, attractive inside-store mix, geographic concentration, and strong control on operating expenses, RBC Capital Markets said in a Monday note.

"CASY underlying performance reinforces our investment thesis around its unique positioning in lower-cost geographies and small markets, and its differentiated inside-store offering," RBC said, noting the company's strong fiscal Q4 beat.

While cautious consumer spending weighed on inside same-store sales, RBC said strong performance from the legacy stores buoyed inside store gross margin. Gas margins were also better than expected and operating expenses were below forecast, the investment firm added.

RBC has a sector perform rating on Casey's General Stores, with a $468 price target.

Shares of Casey's General Stores were up more than 12% in recent Tuesday trading.

Price: 494.21, Change: +54.92, Percent Change: +12.50