Citi lowered the firm’s price target on Dollar General to $146 from $185 and keeps a Neutral rating on the shares. The Q2 report is another score for the bears on the stock, the analyst tells investors in a research note. Consumer demand has weakened beyond management expectations, and the company is taking markdowns to clear non-consumable inventory and investing more in store labor, the analyst tells investors in a research note. The firm believes Dollar General’s fiscal 2024 earnings growth will still likely be muted.
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Read More on DG:
- Dollar General price target lowered to $157 from $199 at Deutsche Bank
- Dollar General downgraded to In Line from Outperform at Evercore ISI
- Dollar General price target lowered to $128 from $165 at Barclays
- Dollar General downgraded to Hold from Buy at Loop Capital
- Dollar General downgraded to Market Perform from Outperform at Telsey Advisory
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