Citi analyst Steven Zaccone on Thursday cut Tractor Supply Co. and Floor & Decor Holdings to neutral from buy after the bank’s store-traffic monitor signaled lower-than-expected business at the retailers.
Despite the pair of downgrades, Zaccone found reason to cheer O’Reilly Automotive Inc. ORLY, which drew an upgrade to buy from neutral because “we think the recent pullback in share presents an attractive buying opportunity for this stable, defensive retailer.”
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