Tractor Supply (TSCO): Reiterate Buy Ahead Of Earnings - Guggenheim

October 14, 2016 7:40 AM EDT
Get Alerts TSCO Hot Sheet
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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Guggenheim analyst, Steven Forbes, reiterated his Buy rating on shares of Tractor Supply Company (NASDAQ: TSCO) along with the price target of $90 ahead of earnings.

The analyst believes that TSCO's recent headwinds pertain more to macro-related issues (than micro), fully expects operating momentum to reaccelerate into 2017, and sees TSCO's 3Q (pre-announced) operating results as a performance trough.

Therefore, he believes, lower expectations (on the back of last month's reset) and a more modest valuation position the shares for outperformance looking ahead to 2017.

The company expects to announce official 3Q earnings on 10/19.

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 $67.38 yesterday.

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