Dollar General (DG)

Apr 21, 2023Trade Ideas

Keep an eye on beaten-down shares of Dollar General (DG).

After plummeting from $260 to a low of $200, it managed to recover to about $218 so far. From here, we’d like to see it refill its bearish gap around $225, and eventually retest resistance around $236. We have to remember that with a slowing economy, many Americans are living paycheck to paycheck, looking for ways to save money. Helping, analysts at Argus just upgraded the DG stock to a buy. Jefferies also reiterated its buy rating on DG with a $285 price target.

Jefferies also noted, “it believes investors are overly focused on the near term while missing the long-term opportunity of DD% EPS growth beyond 2023,” as noted by Street Insider. “The firm estimates 2027 EPS to be $17.11 (vs. consensus of $16.38), representing over 60% growth from 2022 levels, driven by market share gains ahead and unit expansion.”

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