Gordon Haskett downgraded Tractor Supply to Accumulate from Buy with a $215 price target. While still “big fans of the Tractor Supply story,” the firm thinks there is incremental risk to its Q3 SSS growth estimate of 2.0% and argues that Street estimates for FY24 “look too high given what we know today about both discretionary spending and Tractor’s challenging inflation lap in the coming quarters.”
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