Nomura Securities Maintains a 'Buy' on Tractor Supply (TSCO); 3Q Review, High-Quality Comp

Nomura Securities maintains a 'Buy' on Tractor Supply Company (NASDAQ: TSCO) price target raised $3 to $74.

Nomura analyst, Aram Rubinson, said, "Tractor Supply reported Q3 comps of +11.5%, well ahead of the Street at +5.5% and our projection of +7.0%. While inflation and emergency response played a role, the result clearly reflects positive, sustainable momentum in the business. Most encouraging was the consistency of results throughout the period. Tractor Supply achieved double-digit comps in each month of the quarter, and management indicated that October results to date are also very solid. We are raising our EPS estimates to $2.90, $3.52 and $4.20 respectively (up from $2.87, $3.40 and $4.07)."

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 $66.28 yesterday.

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