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
|Jun 2016||BTIG Research||Initiates Coverage on||Buy|
|May 2016||BMO Capital||Maintains||Market Perform|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.