BMO Capital analyst Kelly Bania raised the firm’s price target on Dollar General (DG) to $115 from $90 but keeps a Market Perform rating on the shares. The company’s Q1 results demonstrated continued momentum and better execution from its back to basics strategies, resulting in its first EPS growth in two years, the analyst tells investors in a research note. The management also noted the highest level of trade-down, which could be due to macro dynamics and/or better in-store execution, BMO added, stating however that while it was encouraged by improving fundamentals, Dollar General’s digital business remains early stage and competition remains intense.
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