Goldman Sachs lowered the firm’s price target on Dollar Tree to $145 from $152 and keeps a Buy rating on the shares. The company’s Q1 top line was disappointing and the management cut its FY24 guide due to higher costs associated with their damaged distribution center, the analyst tells investors in a research note. While the weakness in discretionary weather categories was partially weather related, it could also indicate the lower income consumer is under more stress than originally thought, the firm added.
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