Dollar General Downgraded to Underweight at JPMorgan
<p>JPMorgan analysts downgraded <a href='https://financialmodelingprep.com/financial-summary/DG'>Dollar General (NYSE:DG)</a> to Underweight from Neutral and reduced the price target to $116.00 from $132.00.</p>
<p>The bank's rationale includes the financial stress faced by Dollar General's core customer base, with an average household income of $35,000. This strain results from factors like dwindling pandemic-related savings, ongoing inflationary pressures (a 12% increase over a 2-year period), and a reduction of about $40 billion in government assistance. Furthermore, Dollar General's management foresees middle-income customers depleting their excess savings by the end of Fall 2023 due to upcoming student loan repayments, higher interest rates, and rising fuel costs.</p>

NYSE:DG