Piper Sandler analyst Peter Keith raised the firm’s price target on Dollar General (DG) to $115 from $112 and keeps a Neutral rating on the shares after analyzing several factors that will likely impact the company over the coming 2 years. To the positive, Dollar General’s elevated store remodel program should drive a 2% lift to comparable sales growth over the coming years. To the negative, SNAP cuts should be a -40 to -50 bps headwind to Dollar General’s comparable sales starting in Q4. While Piper is disappointed to see the announced resignation by CFO Kelly Dilts last week, the resignation appears completely unrelated to the company’s fundamentals and outlook.
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