Outperform - Price 43.64 on Sept. 15
by Baird Securities

An active hurricane season boosted demand for emergency-response equipment. Further improvement in topsoil conditions supported late-season sales of replacement parts (providing more profit than mowers). [We also see a] lift in demand for heating equipment. Our 49 target (raised from 43) is based on a target [near-term price/earnings ratio] of 16 times...[We] would be more aggressive buyers on pullbacks toward $40. Market cap: $1.6 billion.

Tractor Supply Co. is boosting its share buyback program by $200 million, the farm and ranch equipment retailer said recently.

The program, established in February 2007, now totals $400 million. So far, the company has repurchased 4 million shares for about $178 million, as of June 28. Buybacks reduce the supply of shares on the market, thereby increasing their value.

The stock trades for 6.5x cash flow.

Tractor Supply (TSCO) upgraded to Buy rating from Neutral at UBS. Price target holds at $43 with a $2.80 eps forecast for FY09.

Long term market demand looks strong

shop there for my horses

Downgraded by CIBC Wrld Mkts from Sector Outperform to Sector Perform

Downgraded by Matrix Research from Hold to Sell

Rapid Growth

Upgraded by Wedbush Morgan from Hold to Buy

Upgraded by Robert W. Baird from Neutral to Outperform