Dollar Tree price target raised to $180 from $160 at Wells Fargo

Wells Fargo raised the firm’s price target on Dollar Tree to $180 from $160 and keeps an Overweight rating on the shares. The firm remains bullish on Dollar Tree. Price point expansion in Dollar Tree has multi-year legs, Wells says, adding that while Family Dollar has stalled, it’s too soon to give up given value-creation optionality. The firm argues that Dollar Tree has huge potential in its view, and estimates the banner alone is easily worth $160-$170/share today with further re-rating opportunity ahead.