Dollar Tree Shares Add To Thursday's Gains As Raymond James Upgrades To Strong Buy

By Ciara Linnane Markets MarketWatch Pulse

Shares of Dollar Tree Inc. rose 1.7% premarket Friday, adding to Thursday's more than 5% gain, after Raymond James upgraded the stock to strong buy from market perform and assigned it a stock price target of $95, or 21% above its current trading level. Raymond James had downgraded the stock on March, after rating it a strong buy for eight straight years. "What has changed during the past 17-months is DLTR's valuation has declined to an attractive level following significant stock-price underperformance, while we are increasingly confident on the health of the Dollar Tree banner - and ''modestly'' more upbeat on Family Dollar," he said. Dollar Tree acquired Family Dollar in 2015. The stock had gained 1.7% in 2017 through Thursday, while the S&P 500 has gained 9%.

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