Jefferies Raises Numbers on Family Dollar Stores (FDO) Following Q2, Keeps Hold Rating

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Jefferies raised estimates and its price target on Family Dollar Stores Inc. (NYSE: FDO) from $52 to $53, but is keeping its Hold rating, following Q2 results.

The firm comments, "While we think management continues to do the right things for the company’s longer term health and prosperity, we believe continued gross margin pressure in the short to intermediate term will overshadow SG&A rate improvements and could limit multiple expansion. We think the company’s choppy performance explains the meaningful discount to the other dollar stores particularly during a period of accelerated investment spending."

For an analyst ratings summary and ratings history on Family Dollar Stores Inc. click here. For more ratings news on Family Dollar Stores Inc. click here.

Shares of Family Dollar Stores Inc. closed at $58.36 yesterday, with a 52 week range of $44.42-$60.53.

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