Goldman Sachs Upgrades Tractor Supply Company (TSCO) to Buy, 'Likely Positive Comp in 2021'

February 8, 2021 4:59 AM EST
Get Alerts TSCO Hot Sheet
Price: $177.69 +0.59%

Rating Summary:
    18 Buy, 20 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 17 | Down: 14 | New: 42
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(Updated - February 8, 2021 6:20 AM EST)

Goldman Sachs analyst Kate McShane upgraded Tractor Supply Company (NASDAQ: TSCO) from Neutral to Buy with a price target of $123.00 (from $144.00).

The analyst comments "We Upgrade TSCO to Buy from Neutral for the following reasons: 1) we think the company can “comp the comp” in 2021 driven by new customers, new initiatives (Fusion and Side Lot), ongoing strong execution in digital and a prolonged benefit of those investing in their home; 2) we note an increasingly inflationary environment which traditionally benefits TSCO comps; and 3) TSCO valuation is currently trading at a discount (-6%) to the market versus its two year average that has traded at a premium to the market (+9%)."

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 $151.50 yesterday.

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