Wells Fargo Maintains Overweight Rating for Tractor Supply: Here's What You Need To Know

Wells Fargo has decided to maintain its Overweight rating of Tractor Supply TSCO and lower its price target from $270.00 to $255.00.

Shares of Tractor Supply are trading down 0.33% over the last 24 hours, at $210.12 per share.

A move to $255.00 would account for a 21.36% increase from the current share price.

About Tractor Supply

Tractor Supply is the largest operator of retail farm and ranch stores in the United States. The company targets recreational farmers and ranchers and has little exposure to commercial and industrial farm operations. Currently, the company operates 2,083 of its namesake banners in 49 states, along with 189 Petsense by Tractor Supply stores and 81 Orscheln Farm and Home stores (to be converted to Tractor Supply banners). Stores are generally concentrated in rural communities, as opposed to urban and suburban areas. In fiscal 2022, revenue consisted primarily of livestock and pet (50%), hardware, tools, and truck (19%), and seasonal gift and toy (21%).

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This article was generated by Benzinga's automated content engine and reviewed by an editor.