Goldman Sachs Upgrades Tractor Supply Company (TSCO) to Neutral

Goldman Sachs upgraded Tractor Supply Company (NASDAQ: TSCO) from Sell to Neutral with a price target of $72 (up from $67) citing expectation of margin acceleration.

The firm notes their Sell theme didn't work as the weathered higher commodity prices more gracefully and the the introduction of branded feed is providing a sustained tailwind.

"Efforts to drive margin rate are succeeding, and likely to be more evident in 2012 given more moderate commodity price trends," the analyst noted.

The firm raised FY12/13 EPS to $3.44/3.98 from $3.30/3.80, on expectation for stronger margins. They are now above the consensus.

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 $70.60 yesterday.

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