BofA raised the firm’s price target on Dollar General (DG) to $115 from $100 and keeps a Buy rating on the shares ahead of Q1 earnings due on June 3. The firm, which notes observed sales data accelerated in Q1, in contrast with Street estimates, forecasts Q1 adjusted EPS of $1.40 and 1% comp growth. The firm, which sees improving margin trends through the year, raised the multiple it applies to its FY27 EPS estimate given confidence that Back to Basics initiatives are working.
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