Tractor Supply CompanyTSCO
▼ NegativeCapitalrelevance
DA Davidson lowered price target from $50 to $40 and reduced estimates after expected recovery failed to materialize.
Impact on stocks 1
Consumer Discretionary
Tractor Supply CompanyDA Davidson analyst Michael Baker lowered the price target on Tractor Supply from $50 to $40 while maintaining a Buy rating. The new target still implies a 33% upside from current levels. The firm reduced estimates after an expected recovery following Tractor Supply's first-quarter earnings miss failed to materialize, according to its leading indicator analysis. Despite the cut, the stock is trading at its lowest valuation in a decade on a price-to-earnings basis. Tractor Supply's first-quarter sales rose 3.6%, driven by new store openings, but results fell short of estimates due to weak discretionary spending and softer demand in animal-care categories.
Tractor Supply CompanyDA Davidson lowered price target from $50 to $40 and reduced estimates after expected recovery failed to materialize.