Market Overview

UPDATE: Piper Jaffray Cuts PT to $111 on Tractor Supply Ahead of Earnings

Related TSCO
Morning Market Movers
Bank Of America Comments On Hardlines Sector

Piper Jaffray reiterated its Overweight rating on Tractor Supply (NASDAQ: TSCO) and reduced the price target from $113.00 to $111.00.

Piper Jaffray commented, "We expect decent Q4 results from TSCO on Wednesday evening as the positive benefits early in the quarter from hurricane Sandy were offset by another warm Nov/Dec. Guidance for 2013 will also be a focus, and here we expect an inline outlook as TSCO will be lapping a difficult Q1 and appears to be experiencing some moderation on its multi-year gross margin expansion. [W]e are lowering our price target from $113 to $111 (unchanged 25x multiple) to reflect the reduction in 2013 earnings outlook."

Tractor Supply closed at $94.74 on Monday.

Latest Ratings for TSCO

DateFirmActionFromTo
Oct 2014Raymond JamesUpgradesMarket PerformStrong Buy
Oct 2014Morgan StanleyMaintainsEqual-weight
Jul 2014William BlairDowngradesOutperformMarket Perform

View More Analyst Ratings for TSCO
View the Latest Analyst Ratings

Posted-In: Piper JaffrayAnalyst Color Price Target Analyst Ratings

 

Related Articles (TSCO)

Around the Web, We're Loving...

Get Benzinga's Newsletters