Dollar General (DG): 3Q Beat Could Extend Rally - Guggenheim

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.

For an analyst ratings summary and ratings history on Dollar General click here. For more ratings news on Dollar General click here.

Shares of Dollar General closed at $78.66 yesterday.

You May Also Be Interested In

• Guggenheim Reiterates Buy Rating on Merck (MRK)
• Freedom Broker Upgrades Morgan Stanley (MS) to Buy
• Freedom Broker Downgrades Karooooo Ltd. (KARO) to Hold