UPDATE: Wedbush Raises PT on Family Dollar Stores to $55

Wedbush is out with its report today on Family Dollar Stores (NYSE: FDO), raising its PT from $50 to $55.

In its report, Wedbush writes, "Raising our price target to $55, which assumes the stock should trade at 15x our forward 2012 EPS forecast of $3.70. This represents a slight premium to our projected 13% longer-term earnings growth rate, and is based on our assessment of the company's fundamentals — not on take-out speculation."

Wedbush maintains Neutral on FDO.

At the time of posting, shares of FDO were trading at $52.33, down 1.84% from Wednesday's close.