Argus raised the firm’s price target on Tractor Supply to $260 from $225 and keeps a Buy rating on the shares. The analyst cites the company’s Q4 earnings beat earlier this month and a 12% dividend increase, signaling the management’s confidence in its prospects. The firm further notes that Tractor Supply offers a record of consistent growth, an experienced management team, and a clean balance sheet, along with benefits from its Neighbor’s Club rewards program where customers can earn points on their purchases and obtain a private-label credit card.
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Published first on TheFly
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