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Oppenheimer Maintains Outperform Rating, $20 PT for Pier 1 Imports

Related PIR
Pier 1 Imports Inc Sinks After Weak Q2 Results, Cut Outlook
Earnings Scheduled For September 17, 2014

In a company update published earlier today, Oppenheimer Holdings maintained its Outperform rating and $20.00 price target for Pier 1 Imports Inc. (NYSE: PIR).

Oppenheimer went on to say “We have recommended PIR as one of the most compelling small cap investment stories in the Hardlines Sector for some time. PIR does not discuss business trends intra-quarter. The company is set to report Q1 (May) sales in early June. Management's tone remains quite constructive. Sales volumes at PIR have rebounded, but remain well below prior peaks and are still tracking at a significant discount to the potential of this now much better managed chain. PIR should benefit from easing input costs and more moderate fuel prices over the next few quarters. The forthcoming launch of e-commerce should ultimately prove a meaningful driver of better traffic to PIR stores.”

Pier 1 Imports Inc. closed yesterday at $16.64.

Latest Ratings for PIR

DateFirmActionFromTo
Jul 2014BarclaysMaintainsOverweight
Jul 2014NomuraInitiates Coverage onBuy
Jun 2014Morgan StanleyInitiates Coverage onEqual-weight

View More Analyst Ratings for PIR
View the Latest Analyst Ratings

Posted-In: Oppenheimer HoldingsAnalyst Color Reiteration Analyst Ratings

 

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