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Fly News Breaks for September 2, 2015
DLTR
Sep 2, 2015 | 08:32 EDT
RBC Capital believes that Dollar Tree's namesake stores reported "solid" results, even though its constant currency comp growth came in slightly below expectations. However, the firm notes that the company's two year stacked comp growth accelerated to 7.2% from 5.4%. RBC says that the results of Dollar Tree's Family Dollar stores "appear distorted" due to changes that Dollar Tree has made to the unit. However, the firm continues to expect Dollar Tree's overall EPS to jump 25%+ in 2016 and 2017. It lowered its price target on the shares to $86 from $91 but keeps an Outperform rating on the stock.
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