Tractor Supply Company (TSCO) PT Lowered to $48 at Wolfe Research

Wolfe Research analyst Spencer Hanus lowered the price target on Tractor Supply Company (NASDAQ: TSCO) to $48.00 (from $57.00) while maintaining a Outperform rating.

The analyst commented, "We think investors should anchor to the low end of the guide given the tough compares in 3Q and 2Q is still running just in the middle of the full year guide. This is putting too much pressure on 4Q. Investor sentiment is skewing increasingly negative with the stock now approaching trough multiples as structural concerns pick up. There is a bull case around inflation re-accelerating, better weather to start 2Q and crowded positioning, but the share loss concerns need to be resolved."

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