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Fly News Breaks for June 22, 2018
DG
Jun 22, 2018 | 08:50 EDT
As previously reported, Raymond James upgraded Dollar General to Strong Buy from Outperform and raised its price target to $115 from $100. Analyst Dan Weaver is incremental more positive saying Dollar General is growing market shares at a faster rate at a time when industry pricing is rational. The analyst said the company is making investments to control inventory shrink and notes that average store manager tenure is at an all time high, which when combined, should yield a significant payback. Weaver's FY18 earnings estimate is $6.15, versus consensus of $6.05, and remains bullish due to expanding share, impressive ROI from remodels, inventory shrinkage, and growing cash dividends and buybacks.
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