UPDATE: Stifel Reiterates On Dollar Tree Following Q3 Results

In a report published Friday, Stifel analyst Taylor LaBarr reiterated a Buy rating on

, and raised the price target from $64.00 to $72.00. In the report, Stifel noted, “DLTR beat our estimate on topline (comp +5.9% vs. +4.5%) and bottom line (EPS $0.69 vs. $0.65). We see comp drivers (micro and macro) continuing into 4Q13 and raise our comp estimate above guidance (to +6.5%). 3Q14 results highlight DLTR unique ability to manage supply chain and sourcing – investing in product quality and growing product margin at a fixed price point. We are raising our target price from $64 to $72, reflecting 9.6x EV/EBITDA and 16.8x P/E on our raised FY16 estimates.” Dollar Tree closed on Thursday at $65.87.