Dollar Tree price target lowered to $64 from $120 at Citi

Citi lowered the firm’s price target on Dollar Tree to $64 from $120 and keeps a Neutral rating on the shares. The company missed sales and earnings estimates in Q2, driven largely by a comp miss at the namesake banner, driving a significant cut to fiscal 2024 earnings guidance, the analyst tells investors in a research note. The firm says that with a strategic review of the Family Dollar banner ongoing, Dollar Tree stores are “really all that matters.” Citi sees no reason to be more constructive on the shares.