Tractor Supply Company (TSCO) PT Raised to $65 at Mizuho

Mizuho analyst David Bellinger raised the price target on Tractor Supply Company (NASDAQ: TSCO) to $65.00 (from $64.00) while maintaining a Outperform rating.

The analyst comments "Tractor Supply (TSCO) assuaged fears of slowing sales trends into the early Q4 period, which all seems explainable to us. Negative investor positioning into the print helped drive some relief today with shares +3%, coupled with optimistic commentary towards next year. Takeaways from our callback: 1) Preliminary FY26E guidance calls for a "normalized" investment year after front-loading costs related to certain initiatives; 2) This should lead to a long-anticipated "inflection point" for EBIT margin expansion, predicated on a relatively low comp leverage point in the +2-2.5% range; 3) Ammo is live in half the store base, contributing nicely, and screening as the next iteration of C.U.E. - something we highlighted as a sneaky positive in recent checks (Link Here). As we've indicated before, TSCO has enough building blocks to get comps back into a sustainable +3-5% algorithm. Maintaining our positive view and upping our PT to $65."

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