Dollar General: Jefferies raises price target

(CercleFinance.com) - Jefferies reaffirms its 'buy' recommendation on Dollar General, with an adjusted price target of $90 to $92, the day after the retailer reported better-than-expected fourth-quarter sales and gross margin.


"SG&A expenses increased largely due to impairment charges related to the optimization of 51 pOpshelf stores, resulting in earnings missing expectations", says the broker.

Management provided weak guidance for the year, but also gave an encouraging update on the medium- and long-term outlook', says Jefferies, which remains optimistic about sales opportunities and gross margin upside potential.

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