Tractor Supply price target lowered to $235 from $257 at Truist

Truist analyst Scot Ciccarelli lowered the firm’s price target on Tractor Supply to $235 from $257 and keeps a Buy rating on the shares as part of a broader research note on Hardlines/Broadlines. Truist card data suggests that retail spending trends have softened at the margin over the last few weeks, though these trends also look to be far more stable than what one might assume based on the underperformance seen from many retailers, the analyst tells investors in a research note. The firm is also adjusting its price targets to reflect the sector’s market multiple decline.