Dollar Tree price target lowered to $80 from $130 at Morgan Stanley

Morgan Stanley analyst Simeon Gutman lowered the firm’s price target on Dollar Tree to $80 from $130 and keeps an Equal Weight rating on the shares. The company’s FY24 guide-down reflects a weakening consumer and medium-term challenges and multiple “one-time” headwinds may persist, the analyst tells investors. Though the valuation is “attractive,” the firm stays on the sidelines given what it sees as a high degree of difficulty for a sustained improvement.