Raymond James lowered the firm’s price target on Dollar General to $255 from $280 and keeps a Strong Buy rating on the shares ahead of the company’s report of full Q4 results due on March 16. The firm’s lowered Q4 EPS forecast reflects a more tepid comps performance in December as well as margin pressure from greater inventory damages from the storm. The firm lowered its FY23 EPS forecast to reflect incremental margin pressure and supply chain headwinds taking a little longer to recover.
Published first on TheFly
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Read More on DG:
- 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
- Dollar General downgraded to Accumulate from Buy at Gordon Haskett
