Tractor Supply price target lowered to $195 from $207 at Citi

Citi lowered the firm’s price target on Tractor Supply to $195 from $207 and keeps a Neutral rating on the shares after meeting with management. The main message from the meeting is that Tractor Supply is confident in its position to gain share despite the more challenging retail backdrop, the analyst tells investors in a research note. Weather challenges have been a big headache in 2023, accounting for 75%80% of the same-store-sales miss versus its initial plan, but weather is transitory, says Citi.