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Fly News Breaks for April 12, 2017
TSCO
Apr 12, 2017 | 08:48 EDT
UBS analyst Michael Lasser noted that Tractor Supply cited weather as the main reason its Q1 results fell short of expectations. He believes the shortfall will intensify the debate as to whether the company's problems are systemic, noting that Southern stores, which had better weather, saw eroding traffic. The analyst said the company's comps should ease in the coming quarters and they should see a benefit from the rollout of a loyalty program and a buy-online / pick-up in-store system. Lasser maintained his Buy rating and $86 price target on Tractor Supply shares.
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