Tractor Supply price target raised to $242 from $219 at DA Davidson

DA Davidson analyst Michael Baker raised the firm’s price target on Tractor Supply to $242 from $219 but keeps a Neutral rating on the shares after its Q4 earnings beat. The company’s trends were "remarkably consistent" throughout 2022, and Tractor Supply has been a high quality retailing "winner" even prior to the pandemic, the analyst tells investors in a research note. Despite the evidence of "continuing strong fundamentals" however, valuation is driving the firm’s neutral stance.