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Fly News Breaks for January 22, 2020
TSCO
Jan 22, 2020 | 08:47 EDT
Morgan Stanley analyst Simeon Gutman upgraded Tractor Supply to Overweight from Equal Weight. In retail more broadly, he thinks it will be hard to repeat the strong performance of 2019 given tough comparisons, slower growth and the consumer decelerating, so he recommends selectivity. He acknowledged that his call "is early" as Q4 and Q1 "will likely be weak" because of seasonal and temporary factors. However, he believes the bad news is priced in for what he views as a "quality growth retailer."
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