Shares of Dollar General (NYSE: DG) are up another $3.80 a share in premarket.
All as it continues to gap higher on strong earnings and a dividend. Not only did the company just declare a 59-cent dividend (payable on January 20 to shareholders of record as of January 6), it also just earned a profit of $1.28, up 44% year over year, and 35 cents better than expected. Sales of $10.65 billion, up 4.6% year over year, beat estimates by $50 million.
For fiscal year 2025, DG expects to see net sales increase by 4.7% to 4.9%, which is up from an earlier range of 4.3% to 4.8%. That translates into sales of $42.52 billion to $42.6 billion, which is above estimates of $42.49 billion. Same store sales growth is now seen jumping 2.5% to 2.7%, which is up from 2.1% to 2.6%.
Fueling upside, analysts at JPMorgan just upgraded the DG stock to an overweight rating with a price target of $66. The firm is bullish on store remodels, stocking, and chain improvements.
Tesla
Shares of Tesla (NASDAQ: TSLA) are up about $5 a share in premarket.
That’s after tacking on $12.09 a share on Friday. According to analysts at Barclays, vehicle deliveries are losing importance, as noted by Teslarati.com. “Even CEO Elon Musk has implied at times that the automotive side, as a whole, will only make up a small percentage of Tesla’s total valuation, as Optimus and AI begin to shine with importance,” they added.
In fact, according to a Musk note on X.com, “Almost all of Tesla’s value long-term will be from AI & robots, both vehicle & humanoid…”
Barclays has an equal weight holding on TSLA with a price target of $350 a share.
Broadcom
Broadcom (NASDAQ: AVGO) took a massive hit late last week, falling $46.44 on Friday. All after management warned of margin pressures. However, this morning, the stock is slowly regaining lost ground, gaining $3 in premarket.
Helping, analysts at Morgan Stanley still expect AVGO to see strong growth moving forward.
With an overweight rating on AVGO, Morgan Stanley has a $462 price target on AVGO. They also believe the latest pullback is an overreaction.
Analysts at Bank of America have a $500 price target with a buy rating. Goldman Sachs has a $450 price target with a buy rating. UBS has a $472 price target with a buy rating. And Bernstein has a $475 price target with an outperform rating.