Tractor Supply price target raised to $285 from $250 at Raymond James

Raymond James analyst Bobby Griffin raised the firm’s price target on Tractor Supply to $285 from $250 and keeps an Outperform rating on the shares. Tractor Supply’s Q1 EPS surpassed the consensus driven by favorable SG&A, and the firm was pleased to see a return to growth for big-ticket items, as well as sustained momentum in share gains for consumable and everyday staple items, the analyst tells investors in a research note. The firm has confidence in the long-term resiliency of Tractor Supply’s business model and potential sales and earnings growth over the coming years.