BofA lowered the firm’s price target on Dollar Tree to $112 from $130 and keeps an Underperform rating on the shares. Following the company’s Q2 report, the firm lowers its FY24 EPS estimate to $5.90 from $6.25 previously as a higher sales forecast is offset by incremental gross margin pressure as BofA expects shrink, mix, and diesel fuel headwinds to offset ocean freight savings, the analyst tells investors.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on DLTR:
- Dollar Tree earnings selloff a buying opportunity, says Citi
- Dollar Tree price target lowered to $128 from $138 at Barclays
- Dollar Tree price target lowered to $162 from $172 at Deutsche Bank
- Dollar Tree price target lowered to $150 from $158 at Goldman Sachs
- Dollar Tree (NASDAQ:DLTR) Tanks on Q2 Numbers