BTIG Research Starts Dollar Tree At Buy WIth A $104 PT, Sees Family Dollar Acquisition Benefiting EPS FOr Foreseeable Future

Wednesday night BTIG's Alan Rifkin initiated Dollar Tree DLTR at Buy with a $104 PT.  Integration of Family Dollar will require significant effort by Dollar Tree and the payoff, according to Rifkin, will be a retailer with a complimentary business offering able to serve a wider consumer demographic.  Square footage growth is forecasted to be 7-7.5 percent annually after the company gets through 2016, which Rifkin calls a year of relative slowdown in growth.

Synergies of the Dollar Tree/Family Dollar merger are expected to yield $350-$400 million over time.

Rifkin says the company continues to produce predictable top-line growth.

Shares of Dollar Tree closed Wednesday's regular session at $90.81, up $0.27 or 0.30 percent.