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Fly News Breaks for August 25, 2017
DLTR
Aug 25, 2017 | 05:40 EDT
Raymond James analyst Dan Weaver reinstated Dollar Tree with a Strong Buy rating from a Market Perform and established a $95 price target on shares. The analyst said shares have significantly under-performed over the last 17 months due to poor results from the Family Dollar acquisition, but he believes sales and earnings for this segment have bottomed. Comp sales are beginning to increase slightly and the improvement should accelerate as renovations per year increase to an estimated 500 in FY18 from 350 in FY17. Weaver raised his FY18 earnings estimate for Dollar Tree to $4.91 from $4.79
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