J.P. Morgan Reports on TSCO's Analyst Day (TSCO)

J.P. Morgan published a report detailing the highlights of TSCO's TSCO analyst day, including 4Q sales strength and optimistic store growth profile.

Addressing sales strength, J.P. Morgan wrote “On the 1Q call, management noted that January was off to a solid start and ahead of plan. We
believe that this was true in February and average ticket is trending above last year QTD. Improved merchandising, greater trip frequency, and CUE items are all contributing to the continuing strong sales trends.”

Also in the report, J.P. Morgan commented that “At this year's meeting management spoke optimistically about upside potential due to its successful test of 12 12K square foot smaller box stores (vs. its current 15K square foot new build prototype). Moreover, the company sees the potential for 80 stores in Canada (vs. none currently).”

TSCO's price target is $54.00.

TSCO currently trades at $54.44.