Nomura Securities Maintains a 'Buy' on Tractor Supply Company (TSCO); Recent Dip Offer Opportunity

Nomura Securities maintains a 'Buy' on Tractor Supply Company (NASDAQ: TSCO) price target of $32.00.

Analyst, Aram Rubinson, said, "Ever since TSCO reported Q1 results, the stock has shed much of its premium (10.0x our 2013E EBITDA, a discount to O'Reilly (Nasdaq: ORLY), Sherwin Williams (NYSE: SHW) and Dollar Tree (Nasdaq: DLTR)). That is because concerns about weather have overshadowed more important investment considerations like growth and execution. While the market has fretted about outsized Q1 comps (+11.5%) pulling sales from Q2, we are not concerned. Trends in Q2 may only be ‘in line’, but investors are forgetting that blending H1 is likely to show a comp trajectory of over 7%. That is far more important to consider. F12E/F13E EPS of $3.85/$4.60 vs the Street at $3.69/$4.33."

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 $87.91 yesterday.

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