S&P Maintains 'Buy' Rating On Dollar Tree
NEW YORK (AP) ¿ Standard & Poor's Equity Research on Monday maintained a "Buy" rating on shares of Dollar Tree Inc., but upped its price target saying the discount-store operator is well-positioned to grow sales and earnings in its fiscal 2010.
Dollar Tree is poised to benefit, S&P said, as consumers focus on the best values for their money, and focus on needs rather than wants.
S&P retail analyst Jason Asaeda said they believe the company offers a good mix of consumables, variety and seasonal goods for under $1. He also noted that Dollar Tree is driving traffic with its food options, which are a growing part of discount retailer's sales.
S&P kept its full-year earnings estimate at $2.80 per share and raised its price target by $5 to $50. The new price target implies upside of 18.3 percent over its closing price Friday of $42.25.Shares of Dollar Tree rose 15 cents to $42.40 in early afternoon trading Monday.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV