Raymond James analyst Bobby Griffin lowered the price target of Tractor Supply Co (NASDAQ: TSCO) to $235 from $255 and maintained a Strong Buy rating.
The analyst lowered the near-term estimates due to expected slowing demand across various retail categories and ongoing big-ticket pressure.
The analyst sees weak transactions on continued slowing traffic momentum, which may reflect the pulling back of the company's core customer.
Consequently, Griffin lowered Q3 FY23 and FY23 EPS estimates to $2.22 (from $2.38) and 10.00 (from 10.35), respectively, ahead of its Q3 ...