Sentiment trends around Dollar General are improving, says Goldman Sachs.
Goldman Sachs is staying bullish on Dollar General as spending trends of lower-income consumers and increasingly come into focus. Analysts led by Kate McShane reiterated her buy rating on the discount retailer in a note on Monday. Goldman argues that consumer sentiment toward the company, and cash flow trends inside Dollar General, are improving.
"Our thesis is predicated on DG's strategic position of selling consumables to low-income consumers in predominately rural areas with limited nearby alternatives, which should be a traffic driver as consumers focus on value," McShane wrote in the note. DG YTD mountain Dollar General shares in 2024. McShane has a $169 price target on shares, implying approximately 44% upside potential for the shares.
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