NEW YORK (TheStreet) -- Tractor Supply (TSCO) shares were upgraded to "outperform" from "neutral" by analysts at Credit Suisse (CS), who also slashed their price target to $70 from $74.
Tractor Supply shares are down -5.5% to $57.99 on Thursday after the company lowered its second quarter revenue and earnings expectations.
The company forecast revenue for the quarter to be $1.58 billion, just below Thomson Reuters analysts consensus $1.6 billion expectations, with an EPS between 94 cents and 95 cents, well below analysts $1.02 per share expectations.
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Analysts at the firm believe that the farm and ranch supply retailer is well positioned for growth despite Tractor Supply's own lowered outlook.
TheStreet Ratings team rates TRACTOR SUPPLY CO as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate TRACTOR SUPPLY CO (TSCO) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, growth in earnings per share, notable return on equity, good cash flow from operations and increase in net income. We feel these strengths outweigh the fact that the company shows low profit margins."