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Fly News Breaks for October 22, 2019
DLTR
Oct 22, 2019 | 09:09 EDT
Wells Fargo analyst Edward Kelly raised his price target for Dollar Tree to $140 from $130 on the growing potential for positive news on Family Dollar and Dollar Tree Plus in coming quarters. The analyst says he has noticed building optimism in management's tone and would not be surprised to hear more constructive commentary continue in coming quarters with the launch of higher price point discretionary items this holiday. Ultimately, the analyst sees expansion of the test or a full scale launch as a growing possibility sometime in 2020, which could be announced at a first half 2020 analyst day. He reiterates an Outperform rating on the shares.
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