Dollar Tree moves higher after board changes help attract analyst upgrades
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Dollar Tree (DLTR
+3.5%) gained on Wednesday after the retailer announced that it will reconstitute its board and named former Dollar General CEO Richard Dreiling as its executive chairman. The company made the board changes with the benefit of extensive input from shareholders.
The dollar store stock attracted some attention on Wall Street following the development. Piper Sandler upgraded Dollar Tree (NASDAQ:DLTR) to an Overweight rating from Neutral on its view that all the pieces are in place for a multi-year improvement story. The firm assigned a price target of $181 to DLTR.
In another positive ratings action, Loop Capital Markets analyst Anthony Chukumba move the firm's stance on Dollar Tree (DLTR) to Buy from Hold and set a price target of $200.
The Seeking Alpha Quant Rating on Dollar Tree (DLTR) has been at Hold all year, but has been slowly tracking higher.