Dollar Tree price target lowered to $164 from $170 at Truist

Truist analyst Scot Ciccarelli lowered the firm’s price target on Dollar Tree to $164 from $170 but keeps a Buy rating on the shares. The company’s Q4 results were "solid" as its top line trends continue to accelerate at both banners, but while its FY23 sales outlook was "strong", its earnings this year will likely be pressured due to accelerated investment spending, the analyst tells investors in a research note. The firm adds that Dollar Tree management is still taking the necessary steps to improving the long-term earnings power of the enterprise.