Dollar Tree price target raised to $135 from $129 at Truist

Truist analyst Scot Ciccarelli raised the firm’s price target on Dollar Tree to $135 from $129 and keeps a Buy rating on the shares. The Dollar Tree banner Q3 sales missed expectations but were still “solid”, though trends at Family Dollar segment have “weakened” and are expected to remain soft, largely due to macro pressures on lower income consumers and weak discretionary trends, the analyst tells investors in a research note. The firm adds however that while he slowdown is disappointing, the continued market share gains are encouraging, and Truist believes that the investments in pricing, stores, etc. will ultimately result in higher levels of sales productivity.