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Fly News Breaks for September 10, 2015
DLTR
Sep 10, 2015 | 07:12 EDT
Credit Suisse downgraded Dollar Tree to Underperform from Neutral and lowered its price target to $60 from $70. Analyst Edward Kelly remains cautious on Dollar Tree's acquisition of Family Dollar given execution risk and said the transaction is not living up to initial expectations. Kelly said Family Dollar's recent results were disappointing and management was unwilling ot endorse it previous first full year accretion guidance. The analyst believes the Street may be underestimating potential investment needed at Family Dollar and believes further downside in shares is likely.
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