Credit Suisse analyst Andrew Buscaglia upgraded Fastenal to Outperform from neutral and increased its price target to $55 from $48 saying the selloff since the Q1 report has created a buying opportunity. The analyst views Fastenal as a best-in-class distributor with significant manufacturing exposure with very high operating leverage in an upcycle. Buscaglia said a recent private distributor survey indicates a majority of respondents expect price increases over the next three months and believe the company may be able to increase prices, which would surprise the Street.