Dollar General downgraded to Hold from Buy at Loop Capital

Loop Capital downgraded Dollar General to Hold from Buy with a price target of $140, down from $200. The company “continued a troubling recent trend” in Q2 with the company’s second “miss and lower” print of fiscal 2023, the analyst tells investors in a research note. The firm is “particularly concerned” by the same-store sales decline given the fact that Dollar General’s primary rival Family Dollar posted nearly 6% comp growth in Q2. Loop cites growing execution concerns for the downgrade.