Truist analyst Scot Ciccarelli lowered the firm’s price target on Dollar General (DG) to $83 from $94 and keeps a Hold rating on the shares. The company’s Q3 results were very similar to the firm’s forecasts and Truist Card Data as the management also narrowed their full year guide, the analyst tells investors in a research note. While the company was able to meet its downwardly-reset forecasts, the combination of economic pressures on lower and middle income consumers and competitive forces, especially Walmart (WMT), remain significant headwinds for Dollar General, Truist added.
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Read More on DG:
- Dollar General double upgraded to Buy at BofA on signs of strategy working
- Dollar General Reports Q3 2024 Results Amid Challenges
- Dollar General price target lowered to $80 from $90 at Wells Fargo
- Dollar General price target lowered to $66 from $82 at JPMorgan
- Dollar General price target lowered to $83 from $94 at Truist
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
