Goldman Sachs Downgrades Dollar Tree (DLTR) to Neutral
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Price: $49.38 --0%
Rating Summary:
10 Buy, 9 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 0 | Down: 1 | New: 6
Rating Summary:
10 Buy, 9 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 0 | Down: 1 | New: 6
Trade DLTR Now!
Goldman Sachs downgraded Dollar Tree (NASDAQ: DLTR) from Buy to Neutral and raises their price target from $69 to $73.
The firm said as their thesis has unfolded they now only see a modest 6% upside to their newly revised price target.
"While EPS upside opportunity still remains, we see less multiple expansion as its re-rating to 17X, or a 17% premium to historical valuations, up from 13X, signals that the market has better appreciated DLTR’s compelling secular story," the firm said.
For more ratings news on Dollar Tree click here and for the rating history of Dollar Tree click here.
Shares of Dollar Tree closed at $68.83 yesterday, with a 52 week range of $40.60-$70.54.
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The firm said as their thesis has unfolded they now only see a modest 6% upside to their newly revised price target.
"While EPS upside opportunity still remains, we see less multiple expansion as its re-rating to 17X, or a 17% premium to historical valuations, up from 13X, signals that the market has better appreciated DLTR’s compelling secular story," the firm said.
For more ratings news on Dollar Tree click here and for the rating history of Dollar Tree click here.
Shares of Dollar Tree closed at $68.83 yesterday, with a 52 week range of $40.60-$70.54.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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