Dollar Tree price target raised to $109 from $100 at Truist

Truist raised the firm’s price target on Dollar Tree (DLTR) to $109 from $100 and keeps a Buy rating on the shares. The company’s Q1 results were “strong” with a 5.4% comp as traffic grew 2.5% and comps were up 2.8%, the analyst tells investors in a research note, even though Q2 was guided lower despite comp momentum, the analyst tells investors in a research note. The management team also expects to claw back the additional tariff hit in Q2 through strategies that should have an ongoing benefit, such as price increases, Truist added.