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Upgrade Alert for Dollar Tree (DLTR)

By David Diaz

Dollar Tree (NASDAQ:DLTR) was upgraded from Hold to Buy at Deutsche Bank today. The stock closed yesterday at $97.10 on volume of 1.5 million shares, below average daily volume of 1.7 million.

Dollar Tree, Inc. operates a discount variety store chain. The Company sells an assortment of everyday general merchandise. Dollar Tree sells its merchandise at the $1.00 price point. The Company operates throughout the United States.

Based on a current price of $97.10, Dollar Tree is currently 16.0% above its average consensus analyst price target of $81.56. The stock should discover initial support at its 50-day moving average (MA) of $80.51 and subsequent support at its 200-day MA of $74.94.

In the past 52 weeks, shares of Dollar Tree have traded between a low of $60.31 and a high of $97.45 and closed yesterday at $97.10, which is 61% above that low price. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has remained constant.

SmarTrend recommended that subscribers consider buying shares of Dollar Tree on May 26th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $86.98. Since that recommendation, shares of Dollar Tree have risen 10.7%. We continue to monitor DLTR for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades Dollar Tree

Ticker(s): DLTR