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Dollar Tree price target lowered to $125 from $130 at Guggenheim

Guggenheim lowered the firm’s price target on Dollar Tree (DLTR) to $125 from $130 and keeps a Buy rating on the shares. Softer comps and below-consensus Q3 guidance “overshadowed the meaningful 2Q beat,” the analyst tells investors. Based on talks with investors, the firm believes the recent comp moderation is “the greater concern,” specifically around consumer reaction to the magnitude of pricing mitigation, but the firm believes selective 25c-50c adjustments are “not ABSOLUTELY problematic and do not call into question the relevance-enhancing MPP strategy,” the analyst added.

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