By Josh Beckerman
Shares of Dollar Tree were higher after analysts reacted to the sale of Family Dollar and fourth-quarter results.
The stock rose 10% Thursday to $76.22 and is up about 1% this year.
The company said Wednesday that it agreed to sell Family Dollar to Brigade Capital Management and Macellum Capital Management for $1.01 billion. Quarterly same-store net sales from continuing operations increased 2%.
Truist Securities, which raised its price target to $84 from $76, said Dollar Tree's full-year same-store sales growth guidance of 3% to 5% "would be higher than the majority of our universe." Truist mentioned the favorable effects from the company's multi-price effort.
Truist expects the Family Dollar sale will help the company to focus on the Dollar Tree brand, reduce capital expenses and "enable an acceleration of shareholder returns/buybacks."
Evercore ISI Group and Telsey Advisory Group raised their price targets, while JP Morgan lowered its target.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
March 27, 2025 14:43 ET (18:43 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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