Citigroup downgrades Dollar Tree to 'neutral', cuts PT
** Citigroup cuts rating on Dollar Tree DLTR.O to "neutral" from "buy"
** Says announcement to explore sale or spinoff of Family Dollar, a segment operating general merchandise retail discount stores, could have a gradual negative impact on company's intent to improve profitability
** "We believe the announcement of exploring strategic alternatives shows waning confidence in turning around the (Family Dollar) biz" - Citigroup
** Brokerage cuts PT to $120 from $163, citing "disappointing comps of co's Dollar Tree business in Q1" coupled with issues faced by company in executing its multi-price points plan
** Persistent uncertainty in consumer environment continues to raise concerns for DLTR - brokerage
** Brokerage Deutsche Bank cuts PT to $149 from $151
** Sixteen of 28 brokerages rate stock "buy" or "higher", 10 "hold" and two "sell"; their median PT is $144 - LSEG data
** Up to last close, stock down nearly 21% YTD
Reporting by Anuja Bharat Mistry in Bengaluru
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