UPDATE: Jefferies Raises PT on Dollar Tree to $72

Jefferies is out with its report today on Dollar Tree DLTR, raising its PT from $69 to $72. In a note to clients, Jefferies writes, "Our $72 price target (from $69) is based on the shares selling at 15.5-16x our FY13 EPS estimate. Shares are trading at a blended forward P/E of 15.2x, below the discount group average of 15.6x and only slightly above its three-year average P/E of 15.0x." Jefferies maintains Buy on DLTR. At the time of posting, shares of DLTR were trading pre-market at $62.51, down 0.03% from Friday's close.