Truist analyst Scot Ciccarelli lowered the firm’s price target on Dollar General (DG) to $211 from $237 and keeps a Hold rating on the shares. The analyst cites the company’s negative Q4 pre-announcement and below-consensus FY23 guidance while noting that Dollar General continues to be impacted by sales mix pressures and limited trade-down activity as employment remains strong. The firm also notes that competitors like Walmart (WMT) may chase market share rather than passing on rising input prices, which could incrementally pressure Dollar General’s sales and/or margins.
Published first on TheFly
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Read More on DG:
- Dollar General price target lowered to $255 from $280 at Raymond James
- Dollar General cuts FY22 EPS growth view to 4.5%-5% from 7%-8%
- Dollar General sees FY23 SSS growth 3%-3.5%
- Dollar General cuts Q4 EPS view to $2.91-$2.96 from $3.15-$3.30, consensus $3.24
- Dollar General call volume above normal and directionally bullish