Dollar General price target cut, removed from Analyst Focus List at JPMorgan

JPMorgan analyst Matthew Boss lowered the firm’s price target on Dollar General to $242 from $289 and keeps an Overweight rating on the shares after lowering his FY23 EPS forecast to below the Street view following recent management access and fieldwork. Near-term, he models Q4 same-store sales growth of 6.8%, near the high-end of guidance, and EPS of $3.27, but with shares leading his Department Stores, Specialty Softlines and Discount coverage universe in FY22 he is removing the stock from the firm’s Analyst Focus List.