Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

http://www.businessweek.com/stories/2002-03-18/legg-mason-upgrades-dollar-general-to-buy

Markets & Finance

Legg Mason Upgrades Dollar General to Buy


Legg Mason upgraded Dollar General (DG) to buy from market perform.

Analyst Sally Wallick says fourth-quarter earnings per share results were well above her estimates and the Street's consensus of $0.23, mainly because of better than expected gross margin. She notes the strongest merchandise categories include highly consumable goods, with fourth-quarter sales growth of 10.5%; hardware and seasonal saw sales growth of 26.2%.

Wallick set $0.77 EPS for fiscal 2003, and $0.89 estimates for fiscal 2004 (Jan.). She believes the stock's historical trading range may not be a good indicator of likely near-term valuation as the SEC investigation and EPS restatement constrained the stock's multiple last year. She set a $19 price target.


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus