Dollar Tree (DLTR) PT Lowered to $79 at Truist Securities
Truist Securities analyst Scot Ciccarelli lowered the price target on Dollar Tree (NASDAQ: DLTR) to $79.00 (from $140.00) while maintaining a Buy rating.
The analyst comments "While DG’s (Hold) print was a warning shot for DLTR investors (down 10% on 8/29, day of DG rpt), DLTR is down another 20% today. On top of frustrations over incremental costs continuing to be layered into the guide, DT’s sls have softened as macro pressures spread upstream and investors fret over increased competitive challenges (esp WMT - Hold). While the stock has been a disaster, it seems to be fully discounting the negatives at these levels. With a sub-13x P/E (low-end of new guide), operational improvements at DT (MPP rollout) and strategic options at FD, we think DLTR should be bought by patient investors. PT to $79 from $140."