UPDATE: Deutsche Bank Raises Dollar Tree's PT
According to a research report published this morning, Deutsche Bank has increased Dollar Tree's (NASDAQ: DLTR) PT from $94 to $110.
In the report, Deutsche Bank commented, "We are raising both our EPS est's and PT to $110 on DLTR based on 3 key factors, includ: (1) strong SSS momentum (see comps up 5.5% vs. 4.5% previously); (2) GPM guidance is likely conservative given positive trends in IMU (deflation in 2H); (3) under-levered balance sheet and continued strong FCF generation in 2012/2013 support increased share repurchase activity. Positive catalysts are still on the horizon including 1Q EPS on May 17 and our NDR with CFO a week later. Stay Buy."
Dollar Tree closed yesterday at $96.75.
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