Citi Has Buy Rating On Family Dollar Stores (FDO)

Citi Investment Research has a Buy rating and a $60 price target on shares of Family Dollar Stores Inc FDO. In a note to clients, Citi writes, "We had the opportunity to tour a newly "revitalized" FDO store with members of FDO management. The company is pleased with the early results of its remodeled stores as the format provides increased customer service, enhanced store physical attributes (interior and exterior), and a better merchandise assortment. FDO expects to remodel more than 800 stores in F2011, and we believe the company could increase the rollout to 1,500 per year by F2012. In addition, we believe the company continues to work to differentiate itself through its private brand offering and increased employee training to drive customer satisfaction." Shares of FDO gained 25 cents yesterday to close at $52.00.