Piper Jaffray Reiterates Overweight on Dollar Tree Stores (DLTR)

Piper Jaffray is out with a research report this morning, where it reiterates its Overweight rating on Dollar Tree Stores DLTR; it has a $55.00 price target on the stock. The PJ analysts said that they are maintaining their $55.00 price target ahead of the company's Q3 earnings release of Thursday as they continue to view shares of DLTR favorably with strong traffic and ticket momentum driving sales trends through FY 2010. As for valuation the analysts said, “DLTR is currently trading at ~16.4x forward consensus EPS, which is slightly above the current S&P500 forward multiple. We believe DLTR is well positioned from a sourcing and execution perspective and continue to rate shares Overweight.”