Dollar General price target lowered to $88 from $90 at Telsey Advisory

Telsey Advisory lowered the firm’s price target on Dollar General (DG) to $88 from $90 and keeps a Market Perform rating on the shares. The company reported mixed results in Q3 and shifted down its 2024 earnings guidance, reflecting tough consumer spending trends, higher promotions, and elevated costs, including labor and hurricane, the analyst tells investors in a research note. The firm says clouded visibility on the timing and magnitude of Dollar General’s net gains from its initiatives keeps it on the sidelines.