UPDATE: Jefferies Downgrades Dollar Tree to Hold on Decelerating Comps
Jefferies reduced its rating on Dollar Tree (NASDAQ: DLTR) from Buy to Hold and lowered its price target from $58 to $41.
Jefferies commented, "We have lowered our rating to Hold to reflect decelerating sales. After a period of multiple expansion, the P/E is now contacting and may continue to. Consumer uncertainty may be part of the problem, but increased competition, increased capacity in the industry, slowing benefits from cooler rollout and tough comparisons may also be contributing."
Dollar Tree closed at $43.28 on Thursday.
Latest Ratings for DLTR
|Feb 2016||Telsey Advisory Group||Upgrades||Market Perform||Outperform|
|Jan 2016||Cleveland Research||Initiates Coverage on||Buy|
|Dec 2015||RBC Capital||Upgrades||Outperform||Top Pick|
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