UPDATE: Credit Suisse Upgrades Family Dollar to Outperform on Execution Outlook
Credit Suisse assumed coverage and raised its rating on Family Dollar (NYSE: FDO) from Neutral to Outperform and announced a price target at $82.
Credit Suisse noted, "Family Dollar represents a compelling investment idea in our view. It's clear that the company has the potential for significant earnings upside given the large gap in operating performance versus Dollar General, but choppy execution has created investor skepticism and prevented this upside from being reflected in the stock. While some inconsistency may continue in the near-term, we believe the company is finally on the cusp of a more meaningful improvement. Bolstered by new management (Mike Bloom) with critical small box experience, Family Dollar has recently accelerated the roll-out of multiple initiatives that we believe will drive industry leading comps for the first time in years, upside to earnings, and a revaluation of the stock."
Family Dollar closed at $68.65 on Thursday.
Latest Ratings for FDO
|Sep 2014||UBS||Initiates Coverage on||Neutral|
|Jul 2014||Piper Jaffray||Upgrades||Underweight||Neutral|
|Jul 2014||Deutsche Bank||Maintains||Hold|
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