Adding to the optimism on the stock ahead of the earnings, analysts’ firm Oppenheimer on Monday lifted the price target on the stock from $108 to $120, an upside of 12% from the current price of $107.19.
The firm stated following the target price hike, “We still remain constructive on the dollar store space even after the recent rally. Consistent with our views the past several months, DG remains our top pick.”
If Dollar General manages to beat the expectations in Q2, we can see other analysts firms also following the suit of Oppenheimer.
The stock had shown a resilient spike in August after a month-long sideways trend starting mid-June, thanks to high consumer confidence and low jobless rates. There is a high possibility of these positive trends pushing Dollar General beyond estimates at Thursday’s results.
Also see: Dollar General misses estimates in Q1, shares down over 6%