UPDATE: J.P. Morgan Maintains Neutral Rating, Raises PT for Tractor Supply

In a report issued earlier today, J.P. Morgan & Co. maintained its Neutral rating for Tractor Supply Company

and raised its price target from $75.00 to $96.00. J.P. Morgan went on to say “TSCO reported an impressive start to the year thanks to solid execution and favorable weather. Despite a company-estimated $34-38mm ($0.09-0.11 EPS) in potential demand pull forward, we anticipate continued EPS upside in the quarters ahead (albeit at a more moderate pace). With the stock currently trading at a 25x multiple, we believe upside will need to be driven by upward earnings revisions.” Tractor Supply Company closed at $98.41 yesterday.