---
title: "Hold Rating Reiterated as Outlook De-Risked but Operational Pressures Persist; $34 Price Target Maintained"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/293686106.md"
description: "TD Cowen analyst Max Rakhlenko reiterated a Hold rating on Tractor Supply with a $34 price target. The outlook is de-risked due to achievable FY26 guidance and removal of the long-term algorithm, but operational pressures persist from weak ticket trends and margin headwinds. Piper Sandler also maintained a Hold rating with a $32 target."
datetime: "2026-07-24T00:15:20.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/293686106.md)
  - [en](https://longbridge.com/en/news/293686106.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/293686106.md)
generator: "portal-rs"
---

# Hold Rating Reiterated as Outlook De-Risked but Operational Pressures Persist; $34 Price Target Maintained

TD Cowen analyst Max Rakhlenko maintained a Hold rating on Tractor Supply yesterday and set a price target of $34.00.

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Max Rakhlenko has given his Hold rating due to a combination of factors, including a de-risked outlook but lingering operational pressures. He views the updated FY26 guidance as more achievable, with easier comparisons and early signs of improvement in the Companion Animal business, yet he still sees ongoing pressure from weaker ticket trends, particularly in big-ticket categories and lower units per transaction.

At the same time, he believes the removal of the long-term algorithm has eliminated a key overhang and made the stock more investable, but expects shares to trade largely within a range until sales trends and margins show more durable improvement. He remains cautious on gross margin, citing persistent pricing and transportation headwinds as tariff benefits fade, and therefore keeps a balanced stance with an unchanged price target of $34, reflecting modest upside but not enough conviction for a more positive rating.

According to TipRanks, Rakhlenko is a 3-star analyst with an average return of 3.3% and a 52.97% success rate. Rakhlenko covers the Consumer Cyclical sector, focusing on stocks such as Planet Fitness, Boot Barn, and AutoZone.

In another report released on July 20, Piper Sandler also maintained a Hold rating on the stock with a $32.00 price target.

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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**