Truist analyst Scot Ciccarelli raised the firm’s price target on Tractor Supply to $273 from $237 and keeps a Buy rating on the shares. The analyst cites the company’s "strong beat" in Q4 and FY23 guidance that were driven by "fundamental growth factors", including solid home and land investment activity, rural migration, elevated pet and livestock ownership, as well as SKU inflation. The firm notes that Tractor Supply is one of its favorite picks for 2023.
Published first on TheFly
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- Tractor Supply sees FY23 CapEx $700M-$775M
- Tractor Supply sees FY23 diluted EPS $10.30-$10.60, consensus $10.47
