KeyBanc Starts Tractor Supply Company (TSCO) at Buy; Meaningful Store Growth Opportunity Remains

KeyBanc initiates coverage on Tractor Supply Company (NASDAQ: TSCO) with a Buy. PT $80.00.

KeyBanc analyst says, "TSCO is a unique retailer with a product mix aimed toward the lifestyle needs of the rural homeowner; product mix ranges from animal feed to home improvement products to apparel and footwear. The Company operates 1,043 stores with a longer-term target of 1,800 stores nationally and annual unit growth of 8%. Beyond store growth, comps are positioned to benefit from numerous merchandising and advertising initiatives, with potential upside from a recovery in ticket and housing. With an excellent management team and opportunities in price optimization, inventory management, private label and global sourcing, we believe long-term margin guidance could also prove conservative."

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 $67.98 yesterday.

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