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UPDATE: Deutsche Bank Downgrades Tractor Supply

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In a report released Thursday, analyst Adam Sindler downgrades Tractor Supply Co (NASDAQ: TSCO) from Buy to Hold, dropping price target from $78 to $65.
The report highlights, "We see two key changes from the earnings last night that are driving our recommendation change – larger than expected deflation and greater than expected costs on growth investments. Historically, we had maintained a “buy on the dips” approach to TSCO, especially when the pullback were weather-related. The current situation is a bit different however, as we believe the costs associated with the investments limit EPS upside near-term, making the beat-and-raise aspect of the story a bit more cloudy over the next few quarters."

TSCO closed trading at $69 and is currently down at the $64.32 mark.

Latest Ratings for TSCO

DateFirmActionFromTo
Feb 2016OppenheimerMaintainsOutperform
Jul 2015Piper JaffrayUpgradesNeutralOverweight
Apr 2015BMO CapitalMaintainsMarket Perform

View More Analyst Ratings for TSCO
View the Latest Analyst Ratings

Posted-In: Adam Sindler Deutsche BankDowngrades Price Target Analyst Ratings

 

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