Morgan Stanley Can See Dollar Tree at $170 Soon

By Sam Boughedda

Investing.com — Morgan Stanley instructed traders Friday that it would not shock them to see Greenback Tree Inc (NASDAQ:) proceed to float towards the $170 to $180 vary over the subsequent a number of months.

Shares of Greenback Tree fell 3.7% on Friday, to round $141.

Analyst Vincent Sinisi instructed traders that they’ve missed the inventory’s 70% rally over the previous two months, which they really feel is as a result of “break the buck” announcement — Greenback Tree stated it might increase costs to $1.25 — and with Mantle Ridge taking a stake within the firm, and its third quarter earnings. 

Morgan Stanley (NYSE:) highlighted a variety of $120 to $150 for the inventory in a earlier word. Nonetheless, they acknowledged that this was too conservative, inflicting them to regulate the vary to the above-mentioned $170 to $180.

Sinisi raised the worth goal on Greenback Tree to $150 from $125, protecting an equal weight score.