Dollar General price target raised to $117 from $116 at Truist

Truist raised the firm’s price target on Dollar General to $117 from $116 but keeps a Hold rating on the shares. The company’s Q3 results were “slightly better than expected”, while its reiterated FY23 outlook indicated a bottoming for earnings, the analyst tells investors in a research note. The firm adds however that the stock is down 50% year-to-date as earnings have been slashed from a slew of incremental margin pressures around shrink, price, and labor investments, and it sees most of these headwinds persisting into FY24.