Dollar General price target raised to $127 from $114 at Piper Sandler

Piper Sandler analyst Peter Keith raised the firm’s price target on Dollar General to $127 from $114 and keeps a Neutral rating on the shares. Dollar General’s Q3 earnings announcement was relatively positive, and early signs of the company’s Back to Basics strategy are positive as comp trends have improved as of late, the analyst tells investors in a research note. Though Dollar General is getting back on track, the firm still thinks 2024 is another down EPS year as the company normalizes incentive comp and continues to see shrink headwinds.