10:46 AM EDT, 03/11/2026 (MT Newswires) -- Casey's General Stores (CASY) performed well in fiscal Q3, with momentum continuing in February at its stores, cheese costs remaining favorable, and fuel margin in the low 40s, UBS Securities said Wednesday.

Following fiscal Q3 results, UBS now models fiscal 2026, 2027 and 2028 EPS at $18.02, $19.73, and $21.59, respectively, versus prior estimates of $17.39, $18.78 and $20.38.

Casey's same store fuel gallons rose 0.4% in fiscal Q3, which is its fifth consecutive quarter of positive gallon growth. However, UBS said it would not be surprising if pressure ramps up later in fiscal Q4 and impacts profitability as fuel prices rise.

UBS said it believes Casey's potentially has a bit more insulation on the fuel front as nearly 75% of trips to its locations tend to be for reasons other than fuel, such as pizza and prepared foods.

Analysts also noted that stores that sold chicken wings saw pizza sales increase at a high-single-digit pace. The company now offers chicken wings at nearly 550 stores, which seem to be incremental to its pizza sales, the note said.

UBS raised the price target on Casey's to $706 from $600, while maintaining a neutral rating on the shares.

Price: 693.30, Change: +3.38, Percent Change: +0.49