Tractor Supply price target raised to $280 from $275 at Telsey Advisory

Telsey Advisory raised the firm’s price target on Tractor Supply to $280 from $275 and keeps an Outperform rating on the shares following Q1 results. The company’s Q1 EPS exceeded estimates, which was helped by better operating margins, the analyst tells investors. Further, the company’s Q1 comparables also beat expectations and it finally saw a return to growth in big-ticket products, the firm adds. However, despite the Q1 beat, the firm believes it is prudent for the company to maintain its wide-range EPS guidance for 2024.