UPDATE: Piper Jaffray Raises Price Target on Alliance Data Systems to $110

By Steven Anfield
Benzinga Staff Writer
December 06, 2011 8:00 AM

Symbols: ADS

Posted in: Analyst Color, Price Target, Analyst Ratings

According to Piper Jaffray, Alliance Data Systems (NYSE: ADS) price target is raised to $110.

Piper Jaffray said that it is assuming coverage of ADS at Neutral with a $110 price target (13x 2012E EPS or 9x 2012E adj. EBITDA). “We note share count should drop 10% to ~55M in mid-2013 related to retirement of the converts, and accretion from Loyalty/Brazil should support solid growth in 2013.”

Alliance Data Systems closed yesterday at $104.98.

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UPDATE: Piper Jaffray Raises Price Target on Alliance Data Systems to $110

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