Dollar General Analysts Increase Their Forecasts Following Upbeat Earnings
Portfolio Pulse from Avi Kapoor
Dollar General Corp (NYSE:DG) reported Q3 FY23 sales of $9.69 billion, a 2.4% increase YOY, surpassing analyst estimates of $9.65 billion. EPS was $1.26, beating the $1.19 consensus. Despite the positive earnings, DG shares dropped 1.2% to close at $132.30. Post-earnings, Telsey Advisory Group raised their price target from $124 to $135, maintaining a Market Perform rating, while Citigroup upped their target from $115 to $138, keeping a Neutral rating.
December 08, 2023 | 12:34 pm
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POSITIVE IMPACT
Dollar General's strong Q3 earnings beat with higher sales and EPS could indicate robust financial health, but the stock fell 1.2% post-announcement. Analysts raised price targets, signaling confidence in the stock's future performance.
The positive earnings report and raised price targets by analysts typically suggest a positive outlook for the stock, which could lead to a rebound in the short term despite the initial drop in share price. The market may have already priced in the earnings beat, or there could be other market factors at play affecting the stock price negatively in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100