Jefferies Cuts Price Target on Dollar Tree (DLTR) Following 2Q15
Jefferies maintained a Hold rating on Dollar Tree (NASDAQ: DLTR), and cut the price target to $72.00 (from $75.00), following the company's 2Q15 earnings results.
Analyst Daniel Binder commented, "Shares were pressured as uncertainty around earnings this year rose. Six contributing factors included: 1) Core DLTR SSS and profits were light of expectations, but still within plan; 2) SSS guidance for the year was narrowed to +LSD; 3) FDO profitability eroded more than expected; 4) EPS guidance was suspended; 5) Mgmt. seemed less confident about first year cash EPS accretion; 6) Cannibalization from DLTR store conversions were cited."
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Shares of Dollar Tree closed at $69.65 yesterday.