Dollar Tree (DLTR) PT Raised to $93 at Piper Sandler

Piper Sandler analyst Peter Keith raised the price target on Dollar Tree (NASDAQ: DLTR) to $93.00 (from $72.00) while maintaining a Neutral rating.

The analyst commented: "Comp Trends Improving But Tariff Headwinds Create Near-Term Noise; We remain Neutral rated but are incrementally more positive on DLTR following Q1 results. Comp trends are now showing notable improvement (Q1 comp of 5.4%), and tariffs appear manageable and are now factored into guidance. Shares sold off -8% today in part from confusing guidance. Bottom line, while DLTR is experiencing tariff pressure in Q2, mitigation efforts (including price increases and pack size changes) in 2H should keep the tariff impact for the year neutral. Multi-price remains a driver although we are still concerned this isn't a good long-term solution for DLTR. Also, while comp trends are attractive, 2H still presents notable uncertainty for consumer spending with tariff price increases across retail. All in, we like what we see, but still have some lingering concerns. We raise our PT to $93 (15x 2026E EPS). We raise our multiple assumption from 12x to 15x due to an improved comp growth outlook."

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