Market Overview

UPDATE: Credit Suisse Reiterates Neutral Rating, Lowers PT on Dollar General Corp.

Related DG
Fast Money Halftime Report Final Trade From November 21
Markets Little Changed After Release Of Fed Minutes
Family Dollar Rejects Dollar General Proposal (Fox Business)

In a report published Wednesday, Credit Suisse Group reiterated its Neutral rating on Dollar General Corp. (NYSE: DG), but lowered its price target from $56.00 to $48.00.

Credit Suisse noted, “DG's Q3 earnings confirmed investor fears that momentum is slowing and the company appears to be facing a more difficult operating environment. While Q3 EPS of $0.63 beat consensus and our estimate of $0.60, comps and the gross margin disappointed. Results were pressured by difficult comparisons, a weakening consumer, and increased competitive pressure. Strong cost control saved the quarter. Management's tone suggested that these issues could continue to weigh on results over the next few quarters. As a result, the company has laid out an aggressive plan to improve traffic and sales in 2013, including investment in price, the roll-out of tobacco, an acceleration of its cooler expansion, a more aggressive implementation of Phase V, and continued remodels.”

Dollar General Corp. closed on Tuesday at $42.94.

Latest Ratings for DG

DateFirmActionFromTo
Sep 2014UBSInitiates Coverage onBuy
Aug 2014Deutsche BankMaintainsBuy
Aug 2014Sterne AgeeUpgradesNeutralBuy

View More Analyst Ratings for DG
View the Latest Analyst Ratings

Posted-In: Credit Suisse GroupAnalyst Color Price Target Analyst Ratings

 

Related Articles (DG)

Around the Web, We're Loving...

Get Benzinga's Newsletters