NEW YORK, June 20 Shares of The Pantry Inc
PTRY.O have potential upside, Barron's reported on Sunday, as
the convenience store operator may be an attractive takeover
The Pantry, which operates the Kangaroo Express convenience
stores, have been trading at a much lower multiple than the one
implied by a recent hostile bid for rival Casey's General
Stores Inc (CASY.O) by Canada's Alimentation Couche-Tard Inc
[ATD.UL], Barron's said.
While it is unlikely that The Pantry could trade at the
same multiple as Casey's, it could close some of the gap,
Barron's said, adding that convenience stores have not
consolidated as much as other sectors of retail.
(Reporting by Martinne Geller; Editing by Marguerita Choy)