UPDATE: Loop Capital Upgrades Dollar General (DG) to Buy
- S&P 500 hits new peaks after May inflation data misses estimates
- Nike (NKE) Surges 13% After Beating Q4 Sales, Analysts Raise PTs After 'Exceptional' Quarter
- Banks clear Fed stress test; paving way to boost buybacks, dividends
- FedEx (FDX) Tops Q4 EPS by 2c, Offers FY22 Guidance
- 'If Content is King in Streaming, Netflix (NFLX) Still Wears The Crown': Credit Suisse Upgrades to 'Outperform'
Loop Capital analyst Anthony Chukumba upgraded Dollar General (NYSE: DG) from Hold to Buy with a price target of $260.00 (from $190.00).
The analyst comments "We are upgrading Dollar General to a Buy from a Hold rating while raising our price target to $260 from $220, implying 26% upside from current levels. We believe Dollar General has several strategic initiatives that will drive improved financial performance in F2021 and beyond, including DG Fresh, the non-consumable initiative ("NCI"), and expanding the rollout of produce and self-checkout. While the company will face difficult YoY comparisons in F2021, we think "comping the comp" may not be quite as tough as it appears, particularly given the ongoing COVID-19 pandemic and related economic downturn and aggressive fiscal stimulus measures. Finally, we believe Dollar General is very attractively priced relative to other large capitalization general merchandise value retailers. Our price target is based on 23.5x our F2021 diluted EPS estimate."
Shares of Dollar General closed at $206.57 yesterday.
You May Also Be Interested In
- UPDATE: MKM Partners Upgrades Darden Restaurants (DRI) to Buy
- UPDATE: Redburn Starts Verizon Communications (VZ) at Sell
- Argus Upgrades Duke Energy (DUK) to Buy
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Upgrades
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!