Truist lowered the firm’s price target on Dollar General (DG) to $83 from $94 and keeps a Hold rating on the shares. Dollar General’s Q3 results were similar to the firm’s forecasts and while the company was able to meet its downwardly-revised forecasts, the combination of economic pressures on lower and middle income consumers and competitive forces remain significant headwinds, the analyst tells investors in a research note. While Dollar General may be starting to pivot from store expansion to store optimiation, Truist remains on the sidelines amid the current top-line challenges and margin headwinds.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
