- Telsey Advisory Group analyst Joseph Feldman reiterated an Outperform rating on the shares of Dollar General Corp (NYSE:DG) with a price target of $242.
- Dollar General will report 1Q23 earnings on Thursday, June 1.
- The analyst forecasts 1Q23 EPS of $2.42 versus the FactSet consensus (FS) of $2.39 and anticipates total sales growth of 9% to $9.5 billion, with a comparable sale of 4.5%.
- The analyst believes the business should benefit from strength in consumables with continued at-home consumption and high inflation.
- Also Read: Dollar General Promotes Kelly Dilts To Finance Chief
- The analyst sees value-priced merchandise has appealed to the current consumer, as well as strategic initiatives, such as DG Fresh and NCI (non-consumables initiative).
- The analyst added that Dollar General customers are likely to increase reliance on the company in this more challenging economic climate, which should help performance in 2023.
- The analyst thinks the company remains well-positioned to gain market share, driven by its convenient locations, strong customer relationships, and value-focused, defensive product mix.
- Price Action: DG shares are trading lower by 1.68% at $201.66 on the last check Tuesday.
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