Tractor Supply earnings selloff a buying opportunity, says Piper Sandler

Piper Sandler views the post-earnings pullback in shares of Tractor Supply as a buying opportunity. While the company’s Q1 comp and earnings missed expectations, this appears solely due to unfavorable weather for the last three weeks of March, the analyst tells investors in a research note. The firm sees see a number of positives, including positive transaction comp for March despite weather headwinds, and keeps an Overweight rating on the shares with a $264 price target.