Wells Fargo Resumes Coverage on Tractor Supply Co. (TSCO) with a Market Perform
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Wells Fargo resumes coverage on Tractor Supply Co. (Nasdaq: TSCO) with a Market Perform rating.
Wells analyst says, "We are drawn to Tractor's large square footage growth opportunity, unique product mix and store format with no national direct competitor, as well as the balance sheet strength to execute its growth plans. That said, the company is cycling cost cuts and facing investments that may limit operating margin expansion over the next several years. Additionally, the seasonal change to spring and fall can lead to earnings volatility if weather doesn't cooperate. We think of this as a core retail growth holding but would wait to get involved until something external, like weather, creates a buying opportunity."
To see more analyst ratings on TSCO Click Here.
Tractor Supply Company operates retail farm and ranch stores in the United States.
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