UPDATE: Goldman Sachs Downgrades Dollar Tree (DLTR) to Neutral
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(Updated - November 29, 2021 4:07 PM EST)
Goldman Sachs analyst Kate McShane downgraded Dollar Tree (NASDAQ: DLTR) from Buy to Neutral with a price target of $150.00 (from $116.00).
The analyst comments "We are downgrading DLTR to Neutral from Buy following 3Q results, as we believe the stock now reflects the earnings uplift from the price increase at Dollar Tree as well as recent media reports around the potential for operational improvements, while incremental growth is likely limited due to an expected slowdown in discretionary spending by the low-end consumer and declining traffic. However, we note DLTR remains an attractive story given several company-specific initiatives (H2 remodels, combo stores, multi-price) supporting sales growth in an industry which tends to be counter-cyclical. Since being added to the Americas Buy List on May 18, 2020, DLTR is up +88% vs the S&P up +60% over the same time frame."
Shares of Dollar Tree closed at $141.11 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Downgrades
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