Tractor Supply price target lowered to $275 from $280 at Truist

Truist analyst Scot Ciccarelli lowered the firm’s price target on Tractor Supply to $275 from $280 but keeps a Buy rating on the shares. Truist card data implies a softer Q2 for the company, but this was largely due to weather and macro-driven discretionary pressure, the analyst tells investors in a research note, noting that investors are already pricing in a miss and guidance cut as Tractor Supply shares have come down about 7% since Q1 results in April. Truist remains positive on Tractor Supply longer term given its needs-based demand structure, strong fundamental tailwinds, and growth initiatives.