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Fly News Breaks for March 23, 2017
DG
Mar 23, 2017 | 07:24 EDT
As previously reported, Credit Suisse analyst Edward Kelly downgraded Dollar General to Underperform from Neutral saying its long-term growth algorithm looks unachievable, as increasing competition and rising cost pressures should weigh on earnings for some time. The analyst believes Dollar General will ultimately be forced to reset expectations and disappoint a Street consensus that has assumed a reacceleration to 10% annual growth after a flat 2017. Kelly also lowered his price target on the shares to $62 from $69.
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