Dollarama downgraded to Equal Weight from Overweight at Wells Fargo

Wells Fargo analyst Edward Kelly downgraded Dollarama to Equal Weight from Overweight with a price target of C$130, down from C$136. The company’s multi-year story remains attractive, but its comp and margin margin seem poised to slow, the analyst tells investors in a research note. The firm says Dollarama’s earnings upside “looks limited at best” while its valuation “appears full.”