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Fly News Breaks for September 10, 2019
DG
Sep 10, 2019 | 08:35 EDT
As previously reported, Bernstein analyst Brandon Fletcher downgraded Dollar General to Market Perform from Outperform as he believes its future story is well understood, and the upside is probably priced into the stock already. The analyst argues that Dollar General store growth has limits, while the move into food is smart, inevitable, and empirically destructive to margins for some time. Additionally, Fletcher believes valuation is much higher than in the last decade while the growth runway is a bit lower.
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