DLTR Continues Strong Execution

Analysts at Piper Jaffray reiterate their "overweight" rating on Dollar Tree Inc DLTR, while raising their estimates for the company. The target price for DLTR has been raised from $63 to $70. DLTR posted its Q1 EPS above the market expectations. According to the analysts, “the EPS beat came from a better comp, GM rate and expense leverage.” Piper Jaffray says, “During Q1, DLTR repurchased $218.4M in stock and has $42.2M remaining under the existing authorization… DLTR increased the midpoint of its F10 EPS guidance by ~7% to a new range of $4.29-$4.50…. Based on the improved outlook for Q2, the Q2 and F10 guidance looks achievable and factors in conservative assumptions for ocean freight rate and fuel increases.” Piper Jaffray has raised its EPS estimates for F2010 from $4.28 to $4.46. More Analyst Ratings here