RBC Capital analyst Scot Ciccarelli raised his price target on Dollar Tree to $98 and kept his Outperform rating, saying the company is performing well with a "steady stacked-comp trajectory and better-than-expected margins", even though its Family Dollar unit remains a drag on comps and margins. The analyst believes that given the "material" acceleration of Family Dollar store remodeling that has recently yielded high-single digit comps, the Dollar Tree should start to generate better overall results by the second half of 2019. Ciccarelli lowers his FY19 EPS view on Dollar Tree by 30c to $5.65 but raises his implied valuation multiple to 17.5-times forward 12-month earnings from 16.5-times based on its "highly consistent gross margin performance".