Dollar General (NYSE:DG) was able to fight through their removal from the "Best Ideas" list of Morgan Stanley (NYSE:MS) Monday, as well as being downgraded by Avondale Partners.
Avondale said, "Our downgrade of Dollar General is based solely on 1) valuation and 2) the share price recently surpassing our $33 price target. We believe shares are near fully valued at the Friday Nov. 26 closing price of $32.74."
Avondale downgraded them from "Market Outperform" to "Market Perform."
Morgan Stanley lowered their EPS estimate on the retailer, now expecting full year EPS for 2010 of $1.58 and for full year 2011 EPS of $2.02.
Dollar General closed Monday at $32.78, gaining slightly at $0.04, or 0.12 percent. Avondale has a price target of $33 on them. Morgan Stanley's price target on them is $35.
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