Tractor Supply's Q3 Preview: Analyst Sees Tougher Comps, Macro Pressure & More
Portfolio Pulse from Nabaparna Bhattacharya
Telsey Advisory Group analyst Joseph Feldman has reiterated the Outperform rating on Tractor Supply Company (NASDAQ:TSCO), but lowered the price target to $245 from $265. Feldman expects Q3 sales growth of 7.0% to $3.5 billion, with a lower comp of 1.0% vs. 2.5% previously. The analyst also sees slowing inflation and softening macro demand indicators impacting the company. Despite these challenges, Feldman projects an operating margin expansion of 38 bps to 9.7%.
October 20, 2023 | 7:12 pm
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Tractor Supply Company's stock may face pressure due to lowered price target and challenging macroeconomic conditions. However, the Outperform rating is maintained and an operating margin expansion is projected.
The analyst has lowered the price target for TSCO, indicating a potential downside. However, the Outperform rating suggests that the stock is expected to do better than the market. The projected operating margin expansion could offset some of the negative impact of the macroeconomic conditions.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100