Tractor Supply price target lowered to $60 from $65 at Guggenheim

Guggenheim analyst Steven Forbes lowered the firm’s price target on Tractor Supply (TSCO) to $60 from $65 and keeps a Buy rating on the shares after Q1 operating results “modestly missed” the firm’s expectations. Given the fact that Tractor Supply has identified corrective actions to mitigate the weight of companion animal headwinds and continued scaling of the company’s direct sales and final mile initiative, the firm is “only slightly reducing our estimates,” the analyst tells investors.