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Credit Suisse assumed coverage and raised its rating on Dollar Tree
DLTR from Neutral to Outperform and announced a price target at $55.
Credit Suisse commented, "DLTR is one of the premier companies within consumer in our view. While the story may have less opportunity for upside surprise given the company's already strong profitability and the inherent challenges associated with a single price point model, we see numerous reasons to be constructive. Its store concept, which includes a balance of core staples and “treasure hunt” seasonal product priced at $1, is highly differentiated and well positioned for sustained share gains. The company has a superior new store growth opportunity. It is more immune to certain industry risks, like competition from Wal-Mart and exposure to the low-end consumer. And, there is a capital structure opportunity to enhance growth given the lack of leverage."
Dollar Tree closed at $46.85 on Thursday.
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