Dollar General (DG): 3Q Beat Could Extend Rally - Guggenheim
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Guggenheim analyst, John Heinbockel, reiterated his Buy rating on shares of Dollar General (NYSE: DG) thinking that a 3Q Beat could continue the tactical bounce.
The analyst had reiterated his Buy rating in the aftermath of the disappointing 2Q on the belief that the sell-off was overdone and the shares would benefit from a tactical bounce once the market realized that we were not in the midst of a disruptive “race to the bottom” on pricing.
However, ongoing outperformance will have to stem from comp re-acceleration which does not appear imminent.
No change to the price target of $90.
Shares of Dollar General closed at $78.66 yesterday.
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