Improving rural sentiment supports Tractor Supply outlook, says Jefferies

Jefferies analyst Jonathan Matuszewski tells investors in a research note that above-average temperatures and below-average precipitation are moderating Q4 demand, though recent economic survey data point to improving underlying health in the rural U.S. economy, the analyst tells investors in a research note. The December improvement may signal better sentiment and household spending among Tractor Supply’s (TSCO) core customers in 2026, says the firm, which has a Buy rating and $64 price target on Tractor Supply shares.