Fred Lowrance at Avondale Partners says Gaylord Entertainment shares are worth at least $48 based on the company's future profit potential as a real estate investment trust. The hotel manager this week paved the path toward a REIT conversion by buying back almost half of the shares held by TRT Holdings and agreeing to market the remainder. A reconstituted Gaylord should produce 2013 funds from operations of $190 million, Lowrance told clients Wednesday. "If shares trade more in-line with lodging REIT peers, we believe investors would be well-served accumulating shares at current levels," he wrote. Gaylord shares (Ticker: GET) are trading above $38 today and have of late been climbing back toward their four-and-a-half-year highs of about $40.
Over at RBC Capital Markets, analysts have again started covering shares of Tractor Supply. The firm has shares of the farm and ranch retailer (Ticker: TSCO) rated 'outperform' and sees them climbing to $105. Tractor Supply is changing hands this afternoon at almost $92.