TD Cowen analyst Max Rakhlenko lowered the firm’s price target on Tractor Supply (TSCO) to $38 from $53 and keeps a Hold rating on the shares. The firm said the company is actively working to scale initiatives to re-accelerate Companion Animal and other parts of the store, but progress will take time and they are cautious comps could remain pressured over the medium ter. Cowen We thinks shares remain range-bound in near term and view 2Q EPS as a major catalyst.
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