Dollar Tree price target lowered to $79 from $140 at Truist

Truist lowered the firm’s price target on Dollar Tree to $79 from $140 and keeps a Buy rating on the shares following the Q2 report. On top of frustrations over incremental costs continuing to be layered into the guidance, Dollar Tree’s sales have softened as macro pressures “spread upstream and investors fret over increased competitive challenges,” the analyst tells investors in a research note. However, the firm believes the shares are “fully discounting the negatives at these levels.” It thinks the stock should be bought by patient investors.