Tractor Supply Company (TSCO) PT Raised to $90 at Oppenheimer; Remaining Upside, Despite Easy Money Being Made

Oppenheimer analyst Brian Nagel raised the price target on Tractor Supply Company (NASDAQ: TSCO) to $90.00 (from $80.00) while maintaining an Outperform rating.

Nagel commented, "While easy money in TSCO is now likely made, the run in shares is unlikely over. Inflation is now reemerging as a key top-line driver, helping to counter more difficult comparisons. Sustained sales momentum at TSCO should increasingly lend to expense leverage and ultimately a modest rebound in operating margins. TSCO represents one of the few remaining new unit expansion stories. Our continued positive call on shares from here is longer term in nature and less hinged to near-term data points."

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