Dollar store stocks are surging, and traders see one as a major buy $DG $DLTR $FIVE (via TradingNation)
, president of Strategic Wealth Partners, said macro tail winds should continue to boost these companies and their stocks.
"Dollar stores are a great place to hide out right now because as the economy slows, more and more people go into these stores," said Tepper on CNBC's "Tepper said one name is best positioned to perform better than its peers – Dollar General. He notes that the majority of its revenue comes from perishables such as food and home products, while its geographical footprint in rural areas means it has a strong presence in many markets.
"Management's doing an awesome job managing prices, costs, inventory, and of all these names, Dollar General is the least exposed to tariffs," he added. "We're letting our position ride. But if this thing would pull back to about $125 on an expectations miss, we'd be buying a heck of a lot more." A move to $125 implies 11% downside from current levels. That would also mark its lowest level since May."Here's a stock rated outperform by our fundamental analysts and a stock that continues to maintain its bullish trend," said Wald on CNBC's "Trading Nation.""The standout chart here is Dollar General relative to the S&P 500, breaking through multiyear resistance dating back to the year 2016.
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