Morgan Stanley Reiterates Equal-Weight, Raises Price Target On Tractor Supply Company On Multiple Positive Factors

In a report published Wednesday, Morgan Stanley analyst Simeon Gutman reiterated an Equal-Weight rating on

, and raised the price target from $84.00 to $92.00. In the report, Morgan Stanley noted, "We regard TSCO as one of the best long-term growth stories in our space. What makes this company unique was reinforced at yesterday's Investor Day.Tractor understands its customers,engages them to improve the product offering,and embraces them as part of its culture. The company is led by a strong management team and BoD that are helping it navigate on the path to its new 2,500 store goal.The business is relatively e-commerce insulated with a fast-growing exclusive product mix, high service levels,and rural distribution network." Tractor Supply Company closed on Tuesday at $89.06.