{"id":55848,"date":"2023-09-01T15:05:18","date_gmt":"2023-09-01T19:05:18","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/dollar-general-downgraded-at-raymond-james-but-analyst-still-sees-stock-outperforming-sp-500-in-the-next-year\/"},"modified":"2023-09-01T15:05:21","modified_gmt":"2023-09-01T19:05:21","slug":"dollar-general-downgraded-at-raymond-james-but-analyst-still-sees-stock-outperforming-sp-500-in-the-next-year","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=55848","title":{"rendered":"Dollar General downgraded at Raymond James but analyst still sees stock outperforming S&P 500 in the next year"},"content":{"rendered":"
\n

Dollar General Corp.\u2019s stock continued its slide early Friday as Raymond James downgraded the discount retailer on the heels of its worse-than-expected second-quarter results.<\/p>\n

While Raymond James cut its Dollar General
\n DG,
\n -6.34%<\/bg-quote>
\n rating by one notch, it still assigned an outperform rating to the stock because \u201cwe don\u2019t think Dollar General is a permanently broken business,\u201d said analyst Bobby Griffin. <\/p>\n

\n

An outperform rating at Raymond James means a stock is expected to appreciate and outperform the S&P 500 over the next 12 months.<\/p>\n

Below its outperform rating, Raymond James also has two lower ratings: market perform and underperform. Its previous rating for Dollar General was strong buy. <\/p>\n

Raymond James cut its price target for Dollar General to $160 from $200 to reflect pressure on margins due to markdowns, theft or shrinkage, and consumer weakness, Griffin said. <\/p>\n

While Dollar General\u2019s numbers remain disappointing for now, Griffin said the company\u2019s cost pressures \u201cwill eventually abate and the company will return to more consistent earnings growth.\u201d<\/p>\n

On Friday, investors continued to bid down Dollar General stock, as the price fell 1.4% in premarket trades. <\/p>\n

Separately, analysts at Jefferies cut their price target for Dollar General to $175 from $230 a share. <\/p>\n

On Thursday, Dollar General\u2019s stock lost 12% of its value after missing its earnings projections and lowered its profit outlook on lower same-store sales and reduced traffic. <\/p>\n

A company store in Jacksonville, Fla., was the site of a tragedy on Aug. 26 when a 21-year-old white man shot and killed three Black people and himself in a racist attack. <\/p>\n

Also read:<\/strong> Walmart\u2019s \u2018shrink\u2019 challenges differ from those of other retail giants, CEO says<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Dollar General Corp.\u2019s stock continued its slide early Friday as Raymond James downgraded the discount retailer on the heels of its worse-than-expected second-quarter results. While Raymond James cut its Dollar General DG, -6.34% rating by one notch, it still assigned an outperform rating to the stock because \u201cwe don\u2019t think Dollar General is a permanently […]<\/p>\n","protected":false},"author":1,"featured_media":55849,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-55848","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nDollar General downgraded at Raymond James but analyst still sees stock outperforming S&P 500 in the next year | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Dollar General Corp.\u2019s stock continued its slide early Friday as Raymond James downgraded the discount retailer on the heels of its worse-than-expected\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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