Dollar Tree price target raised to $70 from $65 at BMO Capital

BMO Capital raised the firm’s price target on Dollar Tree (DLTR) to $70 from $65 but keeps a Market Perform rating on the shares. The stock has benefited from a modest relief rally following the company’s in-line Q3 results, which represent a “welcome change” from its recent guidance cuts and misses, but comps weakened again in November at both banners, and it’s not encouraging that the comp lift from Dollar Tree’s multi-line conversions also deteriorated sequentially, the analyst tells investors in a research note.