UPDATE: Deutsche Bank Reiterates on Tractor Supply Company Following Solid 3Q13 EPS Report

In a report published Thursday, Deutsche Bank analyst Greg Poole reiterated a Buy rating on

, and raised the price target from $66.00 to $75.00. In the report, Deutsche Bank noted, “TSCO reported 3Q13 EPS of $0.46 on comps up 7.5% vs FactSet consensus of $0.41 on comps up 5.4%. While comp drove 30 bps of leverage despite 40 bps of one-time costs associated with the HQ relocation and new DC build out, GM upside was the more significant driver – up 90 bps y/y vs our +40 bps expectation. We believe the 3Q results are a solid reflection of the longer-term potential, as we believe the company can effectively take advantage of weather-induced easy comparisons while at the same time maximizing results in more difficult weather environments, such as FY12. This, along with solid core growth potential on both sq ft and market share underpin our Buy rating.” Tractor Supply Company closed on Wednesday at $68.39.