Market Overview

UPDATE: Morgan Stanley Cuts PT to $18 on Staples; Growth Yet to Materialize

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Morgan Stanley reiterates its Overweight rating on Staples (NASDAQ: SPLS) and cuts its price target from $19 to $18 on shares.

Morgan Stanley comments, "We remain OW, as 2-3% revenue growth looks attainable as adjacent category sales continue to grow and core supplies stabilize. At ~9x ‘13E EPS, secular concerns are fully reflected. We believe mid-term upside could result from share gains, margin improvement, and eventually cyclical improvement."

SPLS closed at $13.91 on Wednesday.

Posted-In: Morgan StanleyAnalyst Color Price Target Reiteration Intraday Update Analyst Ratings

 

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