UPDATE: BMO Capital Upgrades Dollar Tree (DLTR) to Outperform

BMO Capital analyst Kelly Bania upgraded Dollar Tree (NASDAQ: DLTR) from Market Perform to Outperform with a price target of $170.00 (from $155.00).

The analyst comments "We are upgrading DLTR to Outperform and raising our TP to $170 as we see a favorable risk/reward. We believe that expectations are too low for the GM% impact of the shift to $1.25 at Dollar Tree, which could support upside to 2022 earnings guidance. If we are wrong and 2022 guidance is disappointing, this could increase the possibility of activist investor-led management/Board changes, which could also be a positive catalyst. Our $170 TP is based on 19x (unchanged) our higher F24E (calendar 2023) EPS of ~$9."

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

Shares of Dollar Tree closed at $140.69 yesterday.

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