UPDATE: Goldman Sachs Raises PT to $93 on Dollar Tree; Solid Q1, Q2 Guide
Goldman Sachs raises its price target on Dollar Tree (NASDAQ: DLTR) from $91 to $93 and reiterates its Neutral rating on shares.
Goldman Sachs says, "DLTR reported a characteristically strong quarter of top-line driving even better bottom line growth. While 2Q comps call for only +L-MSD comps, the quarter has started strong with Mother's day. However, we believe today's stock reaction (6.1)% vs. (2.5)% S&P 500 reflects the fact that given the stock's premium valuation of 18.4x, more was demanded. We continue to view DLTR as a clear secular share gainer well positioned in today's more challenging macro backdrop. However, even safe domestic havens have their price."
DLTR closed at $95.13 on Thursday.
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