Dollar Tree Gets Price Target Cuts By Analysts After Q1 Results

Dollar Tree Inc DLTR reported mixed first-quarter financial results and issued guidance.

Dollar Tree reported first-quarter FY23 sales growth of 6% year-on-year to $7.32 billion, beating the consensus of $7.28 billion. Adjusted EPS of $1.47 missed the consensus of $1.52.

For FY23, Dollar Tree revised its sales guidance from $29.9 billion-$30.5 billion to $30 billion - $30.5 billion against the consensus of $30.37 billion. The company lowered its FY23 EPS outlook from $6.30 - $6.80 to $5.73 - $6.13.

Dollar Tree shares dropped 12% to close at $136.66 on Thursday.

These analysts made changes to their price targets on Dollar Tree following earnings announcement.

• Telsey Advisory Group cut the price target on Dollar Tree from $165 to $162. Telsey Advisory Group analyst Joseph Feldman maintained an Outperform rating.
• Barclays slashed the price target on Dollar Tree from $145 to $138. Barclays analyst Seth Sigman maintained an Equal-Weight rating.
• Citigroup lowered Dollar Tree price target from $180 to $167. Citigroup analyst Paul Lejuez maintained a Buy rating.

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