Dollar General (DG) Reiterated Top Pick at Jefferies After Bullish Consumer Conference 1:1s

June 22, 2022 8:16 AM EDT
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Price: $239.86 +0.16%

Rating Summary:
    29 Buy, 10 Hold, 3 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 10 | Down: 4 | New: 31
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Jefferies analyst Corey Tarlowe reiterated a Buy rating, Top Pick designation and $285.00 price target on Dollar General (NYSE: DG) after hosting meetings on Tuesday (6/21) at the broker's annual consumer conference.

The analyst stated "DG noted that its NCI and pOpshelf initiatives continue to present attractive growth opportunities. To this end, NCI is available in >13,000 stores (as of 1Q), and the company indicated that NCI stores continue to generate an incremental 2.5% total comp sales lift on average in the first year after implementation as well as drive a meaningful improvement in GM. DG also noted its pOpshelf opportunity is significant, with the company highlighting strong customer reception, healthy average basket sizes, and robust unit economics. With 90% of products below $5, we view pOpshelf as well-positioned in the current environment." "Coming away from these meetings, DG remains our top pick, as we believe the company remains well-positioned to drive sustainable top-line growth, gain market share, and enhance profitability. With multiple company-specific initiatives and countercyclical traits in an uncertain macro environment".

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 $238.97 yesterday.

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