Argus Starts Fastenal (FAST) at Buy

Argus initiates coverage on Fastenal (NASDAQ: FAST) with a Buy rating and a price target of $57.00.

The analyst expect Fastenal to post improved results in 2016, with a more robust upturn in 2017, based on their expectations for a gradual recovery in the company’s oil and mining end markets.

They also look for the company to benefit from new store openings and the expansion of its Onsite business.

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 $46.32 yesterday.

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