UPDATE: Goldman Sachs Reiterates Buy Rating, Lowers PT on Family Dollar Stores

In a report published Friday, Goldman Sachs Group reiterated its Buy rating on Family Dollar Stores FDO, but lowered its price target from $77.00 to $67.00. Goldman Sachs noted, “FDO reported 1Q EPS of $0.69, below GS/consensus of $0.73/$0.75. Above plan sales were fully offset by gross margin pressure from markdowns and the mix-shift towards lower margin consumables. We are lowering our FY13/FY14/FY15 EPS estimates to $4.00/$4.40/$5.00 from $4.36/$5.00/$5.80 to account for lower comp growth and incremental margin pressure.” Family Dollar Stores closed on Thursday at $55.74.