Benzinga | Nov 15, 2021 11:22AM EST

Why Dollar Tree's Stock Is Trading Higher Today

Dollar Tree Inc (NASDAQ:DLTR) shares are trading higher after activist investor Mantle Ridge disclosed a 5.7% active stake in the company. Multiple firms also upgraded the stock and raised their price targets, respectively.

* Deutsche Bank analyst Krisztina Katai upgraded Dollar Tree from a Hold rating to a Buy rating and raised the price target from $96 to $148.

* R5 Capital analyst Scott Mushkin upgraded Dollar Tree from a Hold rating to a Buy rating and announced a $171 price target.

* Morgan Stanley analyst Vincent Sinisi maintained Dollar Tree with an Equal-Weight rating and raised the price target from $95 to $125.

Dollar Tree operates discount stores in the U.S. and Canada, including over 7,800 shops under both its namesake and Family Dollar units. The eponymous chain features branded and private-label goods, generally listed for $1.

See Also: 12 Consumer Discretionary Stocks Moving In Monday's Pre-Market Session

DLTR Price Action: Dollar Tree has traded as low as $84.26 over a 52-week period. It's making new 52-week highs Monday.

The stock was up 14% at $128.83 at time of publication.

Photo: Mike Mozart from Flickr.