JPMorgan analyst Matthew Boss upgraded Dollar General to Neutral from Underweight with a price target of $158, up from $120, ahead of the Q4 report. The analyst sees sequential sales improvement in fiscal 2024 for the company, supported by management’s initiatives around in-stocks, store standards, improving customer service, and signage highlighting value to customers. However, JPMorgan also sees margin headwinds relative to 2019 tied to shrink, consumables mix, markdowns, and transportation.
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