Truist analyst Scot Ciccarelli lowered the firm’s price target on Dollar Tree to $140 from $147 and keeps a Buy rating on the shares. The company’s Q1 results were “light” as adverse weather conditions hit right before Easter, though business is expected to improve in Q2-Q4, the analyst tells investors in a research note. Dollar Tree is also reviewing strategic alternatives for Family Dollar, and while the timing seems odd given all of the accelerated investment into the business, this may also be a recognition that the banner and its heavy investment needs are overwhelming Dollar Tree’s growth opportunities, Truist added.
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