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Fly News Breaks for September 14, 2018
TSCO
Sep 14, 2018 | 07:09 EDT
Oppenheimer analyst Brian Nagel reiterated an Outperform rating on Tractor Supply and raised his price target to $100 from $90 after meeting with the company's senior management at its headquarters near Nashville. In a research note to investors, Nagel said he sees an improved sales backdrop taking hold, which is helping to support low- to mid-single digit comps. Nagel, who says he walked away from the conversation increasingly confident that the company is capitalizing upon a better sector and spending backdrop, added that his 2019/2020 EPS forecasts could prove "conservative" and implies annual earnings expansion in the upper-single to low-double digits.
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