Truist Securities raises Tractor Supply's PT on steady margin growth

Tractor Supply Co

14/10/2024 18:29

** Brokerage Truist Securities raises farming supplies
retailer Tractor Supply's  TSCO.O  PT to $325 from $293
    ** Believes the company has multiple drivers such as new
stores, remodels, garden centers to boost sales growth as it
heads into fiscal 2025 — brokerage
    ** Adds, company's gross margin continues to benefit from
lower transportation costs
    ** Maintains "buy" rating, notes benefits from new stores,
fusion remodels and garden centers to offset broader macro
pressures and deflationary impacts
    ** New PT represents 7.1% premium to stock's last close of
$303.37
    ** Seventeen of 33 brokerages rate the stock "buy" or
"higher", 13 "hold" and three "sell"; their median PT is $281 —
LSEG
    ** Including session's moves, stock up nearly 42% YTD

 (Reporting by Anuja Bharat Mistry in Bengaluru)
 ((AnujaBharat.Mistry@thomsonreuters.com))