Dollar Tree IncDLTR
▲ PositiveDemandrelevance
Jefferies upgrades Dollar Tree citing improving traffic trends and raised estimates.
Impact on stocks 1
Consumer Staples
Dollar Tree IncJefferies upgraded Dollar Tree to Hold from Underperform, citing signs that traffic trends are inflecting positively and limited near-term risk of further share loss. Analysts led by Corey Tarlowe said Dollar Tree's business has returned to being simple and straightforward, with second-quarter traffic growth the strongest in nine trailing quarters and potentially bottoming in the first quarter. Jefferies raised its second-quarter comp estimate for Dollar Tree to 3.4% from 2.5%, and its second-quarter EPS estimate to $1.15 from $1.00, above the Street's $1.12. Shares in the discount store chain rose about 1% in U.S. premarket trading. The brokerage's data shows Dollar Tree's second-quarter rolling foot traffic at +1.4%, up from -0.8% in the first quarter, with July foot traffic at +4.5%.
Dollar Tree IncJefferies upgrades Dollar Tree citing improving traffic trends and raised estimates.