Deutsche Bank Raises Price Target & Estimates on Tractor Supply (TSCO) Due to Strong Business Trends

Deutsche Bank is reiterating its Buy rating on Tractor Supply Company (NASDAQ: TSCO), but is raising its price target from $61 to $70 following its solid Q1 results.

The company reported its Q1 results with an EPS of $0.24 and comps of 10.7%. The firm reports that the strong top line results translated into significant expense leverage, driving operating margins up 112 bps y/y.

The firm is raising its FY11 EPS estimate from $2.61 to $2.70 and its FY12 from $3.14 to $3.27 as it believes that the company will continue to show strong signs of growth.

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 $62.97 yesterday.

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