Fastenal, the industrial supply company, just got a vote of confidence from BofA Securities—analysts there bumped up their price target for the stock from $42.50 to $49. That’s a solid 15% increase, suggesting they see stronger growth or better performance ahead.

Editor’s Note: Price target hikes like this often signal that big investors or analysts are optimistic about a company’s future, whether it’s due to strong earnings, market trends, or operational improvements. For Fastenal, it could mean their grip on the industrial supply sector is tightening, or maybe demand for their products is picking up. Either way, it’s a nod that the stock might have more room to run.