Stephens analyst Jeff Lick initiated coverage of Tractor Supply (TSCO) with an Equal Weight rating and $56 price target The firm views Tractor Supply as “a best-in-class, well positioned retailer,” and for investors with a five-year time horizon says “it’s possible our EW rating is too short term focused.” However, the firm struggles with valuation and argues that “shares appear to have greater downside than upside potential,” adding that “We like the company, but the margin for error is too slim to be more positive on the stock.”
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