Guggenheim raised the firm’s price target on Tractor Supply to $255 from $210 and keeps a Buy rating on the shares following Q4 results that came in “slightly ahead of our expectations.” Management’s 2024 outlook “proactively addressed two key investor concerns,” namely deflation risk, with an AUR outlook that was neutral to modestly negative, and ROI, with a new side lot prototype poised to achieve legacy targets while setting the stage for positive expectation revision potential, the analyst tells investors.
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