Barclays Downgraded Dollar Tree (DLTR) to Equalweight; Valuation Call
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Price: $129.39 -0.11%
Rating Summary:
17 Buy, 22 Hold, 6 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
17 Buy, 22 Hold, 6 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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UPDATE - Barclays downgraded Dollar Tree (NASDAQ: DLTR) from Overweight to Equalweight, maintains price target of $79.00.
Barclays analyst says, "On October 7, 2011, DLTR announced that the Board had authorized the company to buy back an additional $1.5 billion shares, and we believe the magnitude of the buyback was a surprise to many investors. It was in fact in line with our expectations, which were reflected in our above-consensus forecast. Street numbers for FY11 and FY12 still do not seem to reflect fully the potential for significant buybacks, but we believe most investors have factored them into their own expectations. Meanwhile, the stock has been rising steadily, in part because investors have been attracted to the company's stability and safety, and on October 13 it hit our $79 price target. After a careful review of the other assumptions in our forecast, we concluded that we were being realistic and could not justify a meaningful increase in EPS."
To see more ratings changes on DLTR, Click Here
Barclays analyst says, "On October 7, 2011, DLTR announced that the Board had authorized the company to buy back an additional $1.5 billion shares, and we believe the magnitude of the buyback was a surprise to many investors. It was in fact in line with our expectations, which were reflected in our above-consensus forecast. Street numbers for FY11 and FY12 still do not seem to reflect fully the potential for significant buybacks, but we believe most investors have factored them into their own expectations. Meanwhile, the stock has been rising steadily, in part because investors have been attracted to the company's stability and safety, and on October 13 it hit our $79 price target. After a careful review of the other assumptions in our forecast, we concluded that we were being realistic and could not justify a meaningful increase in EPS."
To see more ratings changes on DLTR, Click Here
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