Tractor Supply (TSCO): Owning The Rural Consumer
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
Guggenheim analyst, Steven Forbes, reiterated his Buy rating on shares of Tractor Supply Company (NASDAQ: TSCO) after the company announced the acquisition of Petsense—a growth-oriented pet specialty retailer—for $116M.
Due to the the timing of this acquisition, the analyst believes it was likely opportunistic as well as fitting into the secular growth strategy of "owning" the rural consumer. TSCO's accelerated expansion into the pet specialty category is a natural extension of its HomeTown Pet initiative, which launched in 2014 with two locations to learn more about the pet category as well as the specialty consumer.
No change to the price target of $90.
Shares of Tractor Supply Company closed at $68.24 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Northcoast Research Upgrades Tractor Supply Company (TSCO) to Buy
- Cowen Cuts Price Target on Workday (WDAY) Following 3Q
- Mizuho Securities Adjusts Estimates Following Gap, Inc. (GPS) Comp Miss
Create E-mail Alert Related CategoriesAnalyst Comments
Related EntitiesDefinitive Agreement, Guggenheim
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!