J.P. Morgan Raises Tractor Supply Price Target (TSCO)

J.P. Morgan increases its price target on Tractor Supply

from $42 to $47 after TSCO raised guidance. In a note to clients, J.P. Morgan, "Concurrent with TSCO's attendance at our SMid Cap Conference, TSCO raised its FY sales and EPS guidance to sales of $3.57-3.59B and EPS of $2.16-2.19 from its previous guidance of $3.53-3.55B and $2.09-2.13, respectively. This was ahead of the current consensus estimate of $2.14 and our estimate of $2.16. This implies 4Q comps of 6-8% and EPS of $0.58-$0.61." TSCO closed yesterday at $45.44.