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Fly News Breaks for November 27, 2018
TSCO
Nov 27, 2018 | 21:01 EDT
Baird analyst Peter Benedict kept his Outperform rating and $100 price target on Tractor Supply, saying his recent walk through the company's concept store in Newtown, CT reinforced his positive view on the shares. The analyst contends that Tractor Supply's "investments in systems, supply chain, merchandising, and technology are delivering omni-channel capabilities" while strengthening the company's competitive position in the rural market. Benedict sees multiple top-line drivers in place for Tractor Supply in 2019 leading to improved margin stabilization, adding that the latest 7% pullback in the stock price offers a "good buying opportunity".
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