KeyBanc upgraded Dollar Tree to Overweight from Sector Weight with a $150 price target. The analyst expects the company’s fundamentals to accelerate into the second half of 2024. Meanwhile, Family Dollar “is at a critical fork in the road,” with a turnaround or divestiture necessary over the next few years, the analyst tells investors in a research note. The firm sees the rationalization of stores in the sector benefiting Dollar Tree’s comps and profitability, and headwinds from Inflation, shrink, and the Supplemental Nutrition Assistance Program moderating.
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