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Fly News Breaks for March 8, 2018
DLTR
Mar 8, 2018 | 09:10 EDT
MKM Partners analyst Patrick McKeever lowered his price target on the Dollar Tree to $98 after the company's Q4 earnings miss driven by weaker comps and lower than expected SG&A leverage. McKeever also notes the Dollar Tree's disappointing FY18 outlook along with its plans to reinvest 40% of the tax reform related savings into store hours and wages. The analyst keeps his Neutral rating, adding that while labor investment should produce lower turnover and better maintained stores, underperformance at Family Dollar remains a key area of concern.
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