Guggenheim lowered the firm’s price target on Dollar Tree (DLTR) to $100 from $120 and keeps a Buy rating on the shares. The in-line Q3 print and Q4 guidance was “a welcome respite from the disappointing results posted earlier in the year,” though comp momentum is “still subpar,” the analyst tells investors. The maturation of the newest version of the format should result in an acceleration in comps over the next 18-24 months which, together with a modest valuation, creates a “favorable risk/reward,” the analyst added.
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Read More on DLTR:
- Dollar Tree price target raised to $70 from $65 at BMO Capital
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- Dollar Tree price target raised to $72 from $67 at Piper Sandler
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