Dollar Tree shares drop amid analyst downgrade pressure

Dollar Tree Inc. shares fell nearly 5.8% in morning trading on Friday, reaching $123.50 as the discount retailer faced continued pressure from a recent analyst downgrade and broader market weakness.

The stock opened at $130.14 before declining to a session low of $122.52, down from its previous close of $131.04.

Gordon Haskett cut its price target on Dollar Tree to $100 from $120 on October 9 while keeping a Hold rating on the stock. The new target sits roughly 19% below the stock's trading level at the time of the downgrade.

The firm expressed concerns about Dollar Tree's long-term pricing structure following the company's shift away from its traditional $1.00 and $1.25 price points.

The company's next earnings report is scheduled for early December, leaving no immediate catalyst to change investor sentiment in the near term.

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