Dollarama price target lowered to C$105 from C$110 at Wells Fargo

Wells Fargo analyst Edward Kelly lowered the firm’s price target on Dollarama to C$105 from C$110 and keeps an Overweight rating on the shares. The firm sees a choppiness ahead for its traditionally defensive sector, given fundamental concerns and soft-landing optimism. Selectivity seems key, Wells argues, saying it favors names best positioned to navigate the risky backdrop and those with idiosyncratic tailwinds.