UPDATE: JP Morgan Lowers PT to $50 on Dollar Tree on Headwinds

JP Morgan reiterated its Overweight rating on Dollar Tree DLTR but lowered its price target from $55 to $50 following the company's Analyst Day. JP Morgan commented, "With management citing (1) financial uncertainty (i.e., fiscal / election concerns), (2) higher gasoline prices ($3.91 avg per gallon, up ~13% YOY), and (3) tougher YOY comparisons we do not believe 3Q's sales shortfall is “structural” with our bottom-up 2013 SSS build pointing to an underlying “core” comp of 3.0% given (1) new stores/remodels (+1.6%) w/ Deal$ acceleration a catalyst on the horizon, (2) 400 cooler additions w/ smaller store catalyst announced (+70bps), and (3) SKU increases in impulse, stationary, and candy (50bps+). Dollar Tree closed at $41.11 on Friday.