Dollar General downgraded to Market Perform from Outperform at Telsey Advisory

Telsey Advisory downgraded Dollar General to Market Perform from Outperform with a price target of $145, down from $185. The analyst is “disappointed” by the Q2 results, which the firm says reflected soft sales, poor execution, and ongoing investments. Telsey cites Dollar General’s softer comp and profit outlook for the second half of 2023, which it believes is likely to continue into 2024, for the downgrade.