Barclays upgraded Dollar General to Overweight from Equal Weight with a price target of $154, up from $124. The analyst sees an opportunity for demand stabilization across the broadlines, hardlines and food retail space in 2024 from consumable volume to big ticket discretionary. Investor should focus on self-help stories that can work in a variety of macro scenarios and select cyclicals, the analyst tells investors in a research note. Barclays moved from a defensive view to a more balanced view across sub-sectors in 2024. It is more positive on home improvement, less positive on auto parts, and mixed on consumer retail.
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