BofA/Merrill Lynch lowered its price target on Dollar Tree (NASDAQ: DLTR) to $95.00 (from $100.00) while maintaining a Buy rating, following the company's first quarter earnings report.

Analyst Denise Chal notes the company delivered first quarter earnings per share below estimates, as the integration and accretion from the Family Dollar acquisition is moving slower than expected, but sets the stage for robust earnings growth moving forward.