Dollar General price target lowered to $66 from $82 at JPMorgan

JPMorgan lowered the firm’s price target on Dollar General (DG) to $66 from $82 and keeps a Neutral rating on the shares after the company reported quarterly results. The firm sees sequential top-line improvement in FY24 supported by management’s key initiatives around in-stocks, store standards, improving customer service, and signage highlighting value to customers. However, the firm also sees margin headwinds relative to 2019 tied to shrink, consumables mix, markdowns, and transportation.