This Analyst Downgrades Tractor Supply Despite EPS Beat, Cites Short-Term Hurdles
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Raymond James analyst Bobby Griffin downgraded Tractor Supply Company (NASDAQ:TSCO) to Outperform from a Strong Buy while raising the price target to $250 (from $230).
The analyst is bearish on the stock following the fourth-quarter results reported yesterday. Sales declined 8.6% year-on-year to $3.66 billion, marginally missing the consensus of $3.67 billion and, adjusted EPS of $2.28 beat the Wall Street view of $2.22.
The company expects EPS of $9.85 – $10.50 versus the $10.32 estimate. It sees net …
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