Wall Street Races to Raise Tractor Supply’s Price Target Amid Record-Breaking Quarter
Tractor Supply Company (NASDAQ: TSCO) expects record-breaking sales and earnings in the second quarter as a result of over 100 initiatives the rural lifestyle retailer implemented to meet the challenges of the COVID-19 pandemic.
Although Tractor Supply won't report earnings until July 23, it says net sales and comparable sales are expected to grow 20% or more for the period.
That's led Wall Street to rush to upgrade the company's stock. No fewer than 11 firms increased their price targets for Tractor Supply, with an average boost of 19%. While the stock currently trades at $111 per share, analysts see it trading anywhere from $110 to $138 per share, an average of $128 per share.
Source Fool.com
