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Goldman Sachs Bumps Price Target on Tractor Supply (TSCO), Maintains Neutral Rating

March 2, 2012 8:00 AM EST Send to a Friend
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Price: $65.20 -3.18%

Rating Summary:
    9 Buy, 9 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 20 | Down: 10 | New: 7
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Goldman Sachs raised its price target on Tractor Supply Company (NASDAQ: TSCO) from $81 to $85 following the company's analyst meeting, but kept its Neutral rating.

Some takeaways from the meeting: sharpening its eclectic assortment through constant probing and testing of new merchandising ideas; sharpening its execution with continuous process improvement efforts; raised its target store count to 2,100 from 1,800, and its EBIT margin target to 9.5% from 8.5%.

The analyst comments, "In the short run, gas prices are likely eating into traffic growth, but ticket growth compensating.Weather has not been ideal (less precipitation), but March volumes are key. We see current forecasts as reasonable."

For an analyst ratings summary and ratings history on Tractor Supply Company click here. For more ratings news on Tractor Supply Company click here.

Shares of Tractor Supply Company closed at $87.50 yesterday.

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