Telsey Advisory raised the firm’s price target on Tractor Supply to $245 from $230 and keeps an Outperform rating on the shares ahead of the company’s Q4 earnings. The company continues to execute well in rural America and, while there are near-term headwinds from macro pressures, the firm’s confidence in its long-term earnings potential remains strong, the analyst tells investors. Additionally, many of the industry tailwinds catalyzed by COVID-19 should continue to support sales, the firm adds.
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