Cutthroat Competiton Amid Stubbornly High Inflation Ails Dollar General, This Analyst Slashes Price Target By 20%
Portfolio Pulse from Nabaparna Bhattacharya
Loop Capital Markets analyst Anthony Chukumba has reiterated a Buy rating on Dollar General Corporation (NYSE:DG) but lowered the price target to $200 from $250. The company faces macroeconomic challenges such as high inflation, reduced US income tax refunds, and lower SNAP benefits. Dollar General recently reported worse-than-expected Q1 results and cut its FY23 sales growth outlook.
June 05, 2023 | 7:02 pm
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Dollar General faces macroeconomic challenges and increased competition, leading to a lowered price target of $200 from $250 by Loop Capital Markets analyst.
The lowered price target for Dollar General is due to macroeconomic challenges such as high inflation, reduced US income tax refunds, and lower SNAP benefits. Additionally, the company faces increased competition from various retailers and reported worse-than-expected Q1 results, leading to a negative short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100