- Raymond James analyst Bobby Griffin reiterated a Strong Buy rating on Dollar General Corp DG and raised the price target to $285 from $260, implying an 19% upside.
- The analyst raised the price target after the company reported better-than-expected Q2 earnings.
- Griffin thinks Dollar General will remain an attractive investment opportunity in a wide variety of economic environments.
- Related: Dollar General's Q2 Highlights: Earnings Beat, 4.6% Comps Growth, Stock Buyback Boost & More
- He added that DG has the capabilities, real estate growth strategy, and right strategic in-store investments to continue to gain market share by targeting quick "fill-in" trips for cash-strapped consumers.
- DG management noted stronger growth in categories such as canned meat, dry pasta, soup, rice, beans, and core proteins like eggs, in addition to continued demand for $1 priced items, the analyst specified.
- Griffin opined the shift in purchasing habits should continue to benefit Dollar General's share of wallet in the coming quarters.
- Price Action: DG shares are trading lower by 2.57% at $239.76 on the last check Friday.
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