Dollar Tree price target lowered to $160 from $162 at Telsey Advisory

Telsey Advisory analyst Joseph Feldman lowered the firm’s price target on Dollar Tree to $160 from $162 and keeps an Outperform rating on the shares. Dollar Tree’s Q2 results beat expectations, but the company provided a soft Q3 outlook and narrowed its FY23 guidance, the analyst tells investors. While the firm is impressed to see the early success of Dollar Tree’s transformation in terms of stronger Q2 comp, increase in Q2 traffic, and increased sales guidance for H2 of 2023, Tesley is disappointed to see ongoing pressure on profits, which will likely weigh on near-term results.