Goldman Sachs analysts upgraded Dollar Tree (NASDAQ:DLTR) from Neutral to Buy and set a price target of $137.00, down from $150.00. As a result, shares gained more than 4% intra-day today.

The analysts believe Dollar Tree has a promising earnings growth trajectory due to several factors: 1) Expected market share growth from increased foot traffic, enhanced spending capacity for lower to middle-income consumers in 2024, and better store experiences from recent investments; 2) Anticipated reductions in freight costs becoming significant by the latter half of 2023; 3) Ongoing turnaround initiatives predicted to result in a 19% EPS CAGR through FY26, surpassing many competitors.

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