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Dollar Tree downgraded to Neutral on valuation at Citi

Citi downgraded Dollar Tree (DLTR) to Neutral from Buy with an unchanged price target of $132. The firm cites valuation for the downgrade with the shares having doubled since April 2025. Dollar Tree’s risk/reward is now balanced, the analyst tells investors in a research note. Citi expects the company to report a Q4 earnings beat.

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