Casey’s General Stores (CASY) is a Top Pick for the Bear Market

Casey’s General Stores (CASY) is a Top Pick for the Bear Market

The S&P 500 (SPY) may be in bear market territory, but that doesn’t mean that every stock is down. There are three good reasons Casey’s General Stores’ (CASY) has been in a plus column this year. And they’re likely to stay there. Continue reading to learn why you should be adding CASY shares to your portfolio. – StockNews

Let it be known that we are currently in a bear market. And most stocks will continue to head south.

(If you are unclear about that, please read my latest market outlook commentary, Investors: Wake Up and Smell the Pain (Part 2)

Gladly some stocks will go up. Casey’s General Stores (CASY) is the perfect example. Not only is it up 10% in the past month. More impressively is it up over 15% year to date while the stock market sank brutally into bear market territory.

Why is CASY rising above the pack?

First, because investors cling to more defensive names that are at less risk when a recession is on the horizon. CASY is a good fit for the consumer staples category, which is very fashionable at times like these.

Second and, more importantly, CASY’s profit picture keeps improving. Investors are more likely to buy shares if the EPS picture is better.

Third, our POWR Ratings model analyzes 5,300 stocks across 118 unique factors to find those built to outperform. CASY has a rating A (Strong Buy). But even more impressive it is in the top 1% of all stocks across these 118 factors.

All this explains why Wall Street is a big fan of this stock with the analyst at Deutsche Bank pounding the table the loudest with $276 price target. This may not seem like a huge number in the grand scheme. However, with the bear market far from over, and most stocks likely to fall another 100-20% from here…then that $276 target makes CASY quite compelling at this time.

What to Do Next?

You may be curious to see some of my other top pick articles. I have shared my top 2 investment picks for the coming year. Check those out below:

1 Top Pick for 2023 Stock Market

#2 Investment for 2023

Wishing you a world of investment success!

Steve Reitmeister…but everyone calls me Reity (pronounced “Righty”)

Editor of Reitmeister Total Return

CASY shares closed at $224. 94 on Friday, down $-2. 27 (-1.00%). Year-to-date, CASY has gained 14. 79%, versus a -19. 84% rise in the benchmark S&P 500 index during the same period.

About the Author: Steve Reitmeister

Steve is better known to the StockNews audience as “Reity”. Not only is he the CEO of the firm, but he also shares his 40 years of investment experience in the Reitmeister Total Return portfolio. Learn more about Reity’s background, along with links to his most recent articles and stock picks.


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