Fly News Breaks for January 30, 2020
Jan 30, 2020 | 09:52 EDT
Baird analyst Peter Benedict said his early read on Tractor Supply's "mixed" Q4 result and "light" initial FY20 guidance is that he would be inclined to use weakness to accumulate shares. Inventory levels appear to be in good shape and he sees a long-term buying opportunity developing given that he sees comparisons easing after the first quarter and thinks the stock's valuation is discounted. Benedict has an Outperform rating and $120 price target on Tractor Supply shares.
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