Tractor Supply, the Consumer Cyclical sector company, was revisited by a Wall Street analyst today. Analyst Steven Zaccone from Citi upgraded the rating on the stock to a Buy and gave it a $62.00 price target.
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Steven Zaccone has given his Buy rating due to a combination of factors that suggest a promising outlook for Tractor Supply’s stock. The recent decline in share price presents a favorable entry point, especially as the company is expected to return to normalized growth in 2026. This growth is anticipated to be driven by steady traffic, stabilizing pet demand, and inflationary benefits, making 2025 a transitional year.
Additionally, new initiatives, particularly in the business-to-business sector, are gaining momentum and are expected to become more significant in the coming years. Despite recent weaknesses in high-frequency data, the arrival of cooler weather is likely to enhance performance. Furthermore, Tractor Supply’s current valuation is attractive, trading at a discount compared to other retail market leaders, which supports a compelling risk/reward scenario in the analyst’s bull versus bear case analysis.
Zaccone covers the Consumer Cyclical sector, focusing on stocks such as Tractor Supply, Floor & Decor Holdings, and Advance Auto Parts. According to TipRanks, Zaccone has an average return of 4.7% and a 58.82% success rate on recommended stocks.
In another report released on October 1, Mizuho Securities also reiterated a Buy rating on the stock with a $64.00 price target.