Wedbush Morgan Upgrades Dollar Tree Stores (DLTR) to Neutral; Strong Top-Line Execution
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Wedbush Morgan upgrades Dollar Tree Stores (Nasdaq: DLTR) from Underperform to Neutral. Price target increased from $50 to $54.
Wedbush analyst says, "We are upgrading shares of Dollar Tree to Neutral based on strong top-line and bottom-line execution. Dollar Tree has proven to be an excellent safe haven during recent challenging times and as such has provided strong returns by successfully adopting strategies to increase their mix of consumables, which has resulted in increased traffic, positive comps, and earnings growth. Given recent strong performance in more discretionary categories, we now believe the company is also well positioned to benefit in a recovering economy with a more discretionary mix than other dollar stores, which could result in multiple expansion...Raising our forecast for full-year EPS to $3.20 (from $3.03) on 6% comps. We also raise our forecast for 2010 EPS to $3.60 (from $3.33) on 3% comps."
To see more analyst ratings on DLTR Click Here.
Dollar Tree, Inc., through its subsidiaries, operates discount variety stores in the United States. Its stores offer merchandise at the fixed price of $1.00.
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