Nomura Securities Boosts PT on Tractor Supply (TSCO) Following Upbeat Investor Day

March 6, 2013 8:30 AM EST
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Price: $75.22 +0.57%

Rating Summary:
    13 Buy, 11 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Nomura Securities raised its price target on Buy-rated Tractor Supply Company (NASDAQ: TSCO) from $110 to $120 following the company's analyst day.

Analyst Aram Rubinson comments: Themes were consistent with prior years, but increasingly we notice that TSCO is merchandising in every dimension. TSCO's vendor show featured hundreds of new items spanning both existing and new categories. The newest dimension of merchandising is ‘regionality’. TSCO realizes that not every initiative works in every store. TSCO’s regionalization is most obvious within Heating (88% were in “limited stores”), Clothing & Footwear (60%), and Toys & Décor (47%). TSCO enjoys visible growth. The new store program is steady at 8% and comps are driven by multi-dimensional merchandising and a lot of unused space. We lift our target to $120 from $110, reflecting a consistent growth trajectory through 2015 (was 2014)"

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 $104.29 yesterday.

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