Dollar Tree price target raised to $149 from $135 at Truist

Truist analyst Scot Ciccarelli raised the firm’s price target on Dollar Tree to $149 from $135 and keeps a Buy rating on the shares as part of a broader research note on Hardlines/Broadlines Consumer names. Retail could be poised for solid outperformance for FY24 following slight and rare underperformance in FY23 despite investor concerns over inflation and higher interest rates as consumers continue to spend, especially if the Fed is at/near the end of their tightening cycle, the analyst tells investors in a research note. Truist adds that while the firm remains wary that Family Dollar could just prove to be more of a “bad asset” than previously assumed, Dollar Tree sales are strong and Family Dollar stacked comps are the best that they have been since the GFC.