Telsey Advisory lowered the firm’s price target on Tractor Supply to $230 from $245 and keeps an Outperform rating on the shares. The company’s Q3 EPS exceeded the firm’s expectations, but comp was disappointing, reflecting underperformance from unfavorable weather and discerning spending patterns by customers in the current macroeconomic environment, the analyst tells investors. Although there are near term challenges, the medium to long term prospects for Tractor Supply remain solid, the firm adds.
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Read More on TSCO:
- Tractor Supply price target raised to $220 from $215 at Piper Sandler
- Tractor Supply price target lowered to $192 from $212 at Barclays
- Tractor Supply price target lowered to $225 from $235 at Baird
- Tractor Supply cuts FY23 EPS view to $10.00-$10.10 from $10.20-$10.40
- Tractor Supply reports Q3 EPS $2.33, consensus $2.29