UPDATE: Imperial Capital Lowers PT
According to a research report published earlier today, Imperial Capital has lowered Checkpoint Systems Inc. (NYSE: CKP) PT from $13 to $12.
Imperial Capital went on to comment in the report, “Checkpoint Systems (CKP) generated revenue of $865.3mn, EBITDA of $72.4mn, and adjusted EPS of $0.47 during the latest 12 months (LTM) ended 12/31/11. The company had $93.5mn in cash and total debt of $150.5mn as of that date. We are maintaining our In-Line rating and lowering our one-year price target to $12 from $13. We expect investors to remain on the sidelines pending stronger execution and progress on the company's major global restructuring plan. We do not rate the company's debt securities.” Checkpoint Systems is currently trading at $11.32.
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