Market Overview

Deutsche Bank Reiterates Buy, $80 PT on Tractor Supply

In a note out today, Deutsche Bank reiterated a buy rating and $80 price target on Tractor Supply (Nasdaq: TSCO).

“We believe TSCO continues to make significant improvements in its marketing capabilities and has several initiatives and tests under way. One of the more significant initiatives includes changing the expectations and behaviors of the “aware, non-shopper.” As part of this initiative, TSCO recently conducted a series of tv advertising tests in 3 markets. On the other end of the spectrum, TSCO is also refining its marketing initiatives to current customers, including better use of customer data from the POS roll out in 2009 and 2010,” the bank said in the note.

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