Baird Reiterates Outperform Rating on Tractor Supply Company (TSCO) Into Q3 Results

Baird analyst Peter Benedict reiterated an Outperform rating and $250.00 price target on Tractor Supply Company (NASDAQ: TSCO) ahead of Q3 results.

The analyst commented, "While extreme heat/drought conditions likely limit any upside (well telegraphed), our survey suggests another quarter of +MSD% comps for TSCO. Our 3Q EPS estimate lags the Street slightly, but in aggregate we anticipate mostly in-line results. Looking forward, Orscheln provides some cushion, but the Street's FY23 numbers may need to come in as TSCO cycles this year's extra week lift. Net, not much tactical urgency into the print, but we believe the stock retains considerable longer-term appeal given its resilient, needs-based business model and powerful micro-initiatives."

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 $198.68 yesterday.

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