Baird raised the firm’s price target on Tractor Supply to $285 from $260 and keeps an Outperform rating on the shares after its Q1 earninbs beat . The quarter saw positive traffic and new customer growth, with return to big-ticket sales gains also seen among key callouts from the results, the analyst tells investors in a research note. Tractor Supply’s unique blend of defensive needs-based demand and offensive big-ticket seasonal exposure carries appeal amid an uncertain macro environment, the firm added.
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