Nomura Securities reiterates a 'Buy' on Tractor Supply (TSCO); Lift Estimates on Pre-announce
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Price: $258.13 +0.85%
Rating Summary:
26 Buy, 14 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
Rating Summary:
26 Buy, 14 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
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Nomura Securities reiterates a 'Buy' on Tractor Supply Company (NASDAQ: TSCO) price target raised $2 to $89.00.
Nomura analyst, Aram Rubinson, said, "Yesterday, TSCO pre-announced revenues of $1.24 billion and same store sales of +7.6% (+6.5% excluding an extra comp day in the period). This was ahead of our expectations of +2.5%, and guidance that was simply “positive”. TSCO was lapping a Q4/2010 comp of +13.1%. This suggests the two-year comp for Q4 accelerated to +20.7%, from +16.5% in Q3. For the full-year 2011, the two-year trend should exceed 15%. We are increasing our comp expectations for F2012 and F2013 to +5% and +4.5% (from +4.5% and +4.0%), respectively. We now look for F2011 EPS of $3.00 (up from $2.90). Our F2012 and F2013 numbers go to $3.65 and $4.40 (from $3.52 and $4.20), respectively."
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 $72.93 yesterday.
Nomura analyst, Aram Rubinson, said, "Yesterday, TSCO pre-announced revenues of $1.24 billion and same store sales of +7.6% (+6.5% excluding an extra comp day in the period). This was ahead of our expectations of +2.5%, and guidance that was simply “positive”. TSCO was lapping a Q4/2010 comp of +13.1%. This suggests the two-year comp for Q4 accelerated to +20.7%, from +16.5% in Q3. For the full-year 2011, the two-year trend should exceed 15%. We are increasing our comp expectations for F2012 and F2013 to +5% and +4.5% (from +4.5% and +4.0%), respectively. We now look for F2011 EPS of $3.00 (up from $2.90). Our F2012 and F2013 numbers go to $3.65 and $4.40 (from $3.52 and $4.20), respectively."
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 $72.93 yesterday.
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