UPDATE: Morgan Stanley Upgrades Dollar Tree to Overweight Following AlphaWise Survey
In a report published Wednesday, Morgan Stanley analyst Mark Wiltamuth upgraded the rating on Dollar Tree (NASDAQ: DLTR) from Equal-Weight to Overweight, and named a $57.00 price target.
In the report, Wiltamuth noted, “We are raising comp estimates after our survey showed that consumers have shrugged off the 2% payroll tax increase. While consensus is assuming eroding comps, we see a flat 2-yr stacked comp trends, with comps growing from 2% in 1Q to 5-6% by 2H.”
Dollar Tree closed on Tuesday at $47.32.
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