Dollar Tree price target lowered to $160 from $180 at Wells Fargo

Wells Fargo analyst Edward Kelly lowered the firm’s price target on Dollar Tree to $160 from $180 but keeps an Overweight rating on the shares after its Q1 results and guidance cut. The company is exploring strategic alternatives for its troubled Family Dollar business in an attempt to unlock value, and while its quarter was impacted by a softer low-income consumer backdrop, the firm continues to sees a “compelling” sum of the parts investment story that is anchored by the core Dollar Tree business, the analyst tells investors in a research note.