Nomura Securities Starts Tractor Supply Company (TSCO) at Buy; All Ingredients Of A Good Investment

Nomura Securities initiates coverage on Tractor Supply Company (NASDAQ: TSCO) with a Buy. PT $73.00.

Nomura analyst, Aram Rubinson, said, "TSCO has all the ingredients of a good investment, in our view: the top line of a growth story, margin growth of a turnaround and the capital return profile of a blue chip. TSCO has fared well in good times and in bad. During the good times (2004–06), its comps grew an average of 6%. During the bad times (2007–09), its comps grew an average of 1.2%. To us, that means the company is relatively in control of its own destiny. We have instituted EPS estimates of $2.90 and $3.50 for 2011 and 2012, respectively. Those estimates are 2% and 8%, respectively, ahead of consensus. We think TSCO can outperform our forecasts."

For more ratings news on Tractor Supply Company click here and for the rating history of Tractor Supply Company click here.

Shares of Tractor Supply Company closed at $56.36 yesterday.

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