UPDATE: Goldman Sachs Raises PT to $105 on Tractor Supply Ahead of Earnings and Guidance
Goldman Sachs reiterated its Neutral rating on Tractor Supply (NASDAQ: TSCO) and raised the price target from $100.00 to $105.00.
Goldman Sachs noted, "We expect realistic sales guidance against a tough 1Q compare (TSCO benefited from warm weather in 1Q12); our forecast is well below the Street, but we think this issue is understood. Bottom line, we expected 15%-20% EPS growth (16% single point), strong vs. retail, but below the 32% CAGR from 2009-2012E, a dynamic likely reflected in a relative multiple that has compressed from long-run peaks."
Tractor Supply closed at $94.74 on Monday.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.