DG - Cautious Optimism Surrounds Dollar General's FY24: Analysts Highlight Strategic Gains Amid Emerging Risks | Benzinga
Dollar General Corp (NYSE:DG) reported better-than-expected first-quarter FY24 earnings. The following are the comments from various analysts.
Truist Securities – Reiterates Hold, price target lowered from $140 to $135
Analyst Scot Ciccararelli said the company’s comparable sales were slightly better than expected, and it reiterated its outlook.
However, it appears that the year will now be a bit more backend loaded than previously anticipated, leading the analyst to modestly lower’ 24/’25 estimates to $7.30/$8.05 from $7.35/$8.20.
While there have been some views of stabilization for Dollar General’s customer cohort (with 4% traffic growth), shopping behaviors are historically consistent with a still-stressed customer, noted the analyst.
Dollar General, according to the analyst, will need a couple of things like shrink to move into their favor in 2H.
BMO Capital Markets – Reiterates Market Perform, price target lowered from $150 to $140
Analyst Kelly Bania ...