Fly News Breaks for January 24, 2020
Jan 24, 2020 | 06:14 EDT
Piper Sandler analyst Peter Keith raised his price target for Tractor Supply to $119 from $113 and maintains an Overweight rating on the shares ahead of the company's Q4 results. The analyst says that while both comp expectations and valuation are "low/reasonable," he has slight concerns around the optics of the Q4 print based on potential for gross margin pressure from markdowns and flat/negative comp transactions. However, he attributes much of this weakness to weather headwinds, and continues to see a favorable setup in 2020.
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