Tractor Supply price target lowered to $45 from $57 at Morgan Stanley

Morgan Stanley analyst Simeon Gutman lowered the firm’s price target on Tractor Supply (TSCO) to $45 from $57 and keeps an Equal Weight rating on the shares. While the firm thinks 2%-3% comps in a normalized environment is “achievable,” it sees near-term risks to the downside as visibility is low given pressure in companion animal and increasing competition, the analyst tells investors in a post-earnings note.