Dollar General price target lowered to $80 from $90 at Wells Fargo

Wells Fargo analyst Edward Kelly lowered the firm’s price target on Dollar General (DG) to $80 from $90 and keeps an Equal Weight rating on the shares after its Q3 earnings miss. The company’s Q3 was choppy as hurricanes prevented an EPS beat and resulted in a lower FY outlook, and fundamentally, “nothing changes”, with deep foundational concerns around comps that continue to point to competitive issues and needed investment, the analyst tells investors in a research note.