Gordon Haskett analyst Chuck Grom downgraded Dollar General to Accumulate from Buy with a price target of $245, down from $275. The analyst says the downgrade balances a long-term favorable view of the retailer with some increasing uncertainty in the coming months on both a macro and micro level. The firm is "marginally more concerned" that the likely reduction in tax refunds this year alongside the material reduction in SNAP benefits could weigh on Dollar General’s comps in early 2023. In addition. Gordon Haskett thinks the company’s changeover within the C-Suite in recent months "needs to be monitored."
Published first on TheFly
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