Tractor Supply price target raised to $256 from $238 at Piper Sandler

Piper Sandler analyst Peter Keith raised the firm’s price target on Tractor Supply to $256 from $238 and keeps an Overweight rating on the shares. His Farm & Ranch retailer survey shows Q4 comp growth of 3%-4%, which makes it "the strongest quarter for 2022," Keith tells investors. For Tractor Supply, he is raising his Q4 comparable sales growth estimate to 7% and thinks the set-up for Q1 "looks quite favorable for both comp and gross margin."