UPDATE: Argus Upgrades Fastenal (FAST) to Buy

(updated to add analyst comment)

Argus upgraded Fastenal (NASDAQ: FAST) from Hold to Buy with a price target of $54.00.

Analyst John Eade comments "Over the long term, we expect this mid-cap Industrial company to generate mid-single-digit sales growth and high single-digit EPS growth. The balance sheet is clean and management has focused on growing the dividend, which currently yields about 2.8%."

For an analyst ratings summary and ratings history on Fastenal click here. For more ratings news on Fastenal click here.

Shares of Fastenal closed at $45.80 yesterday.

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