Piper Sandler lowered the firm’s price target on Dollar Tree to $168 from $171 and keeps an Overweight rating on the shares following a somewhat disappointing EPS print. The firm notes Q4 results were fine absent a one-time charge, and comp results were as expected. Q1 and 2024 guidance were below expectations as notable investments continue, Piper adds. Perhaps most disappointing is the company backing off the 2026 timeline target for reaching $10 of EPS, which is due to worse than expected headwinds from shrink and mix, and a step down in SNAP benefits, says the firm.
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