Baird analyst Peter Benedict reiterates an Outperform rating and $265 price target on Tractor Supply shares following the company’s Q1 report. Although softer sales and associated deleverage drove about a 4% EPS shortfall compared to consensus, this seasonal softness was "not surprising" and the company remains "well positioned to capitalize on seasonal demand as spring arrives," the analyst tells investors. While the delayed start to spring hurt Q1, trends have improved quarter-to-date and the company reaffirmed its FY23 outlook, the analyst added.
Published first on TheFly
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Read More on TSCO:
- Tractor Supply backs FY23 diluted EPS view $10.30-$10.60, consensus $10.51
- Tractor Supply reports Q1 EPS $1.65, consensus $1.71
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- Tractor Supply price target raised to $265 from $240 at Baird
- Tractor Supply price target raised to $270 from $255 at Wells Fargo
