Market Overview

Morgan Stanley Reiterates Overweight Rating on Staples

Share:
Related SPLS
Benzinga's Top Upgrades
Cleveland Research: FTC Blocking Staples/Office Depot Merger 'Most Probable Outcome'
Will Office Depot (ODP) Miss Earnings Estimates in Q2? - Analyst Blog (Zacks)

In a report published Wednesday, Morgan Stanley reiterated its Overweight rating on Staples (NASDAQ: SPLS).

Morgan Stanley noted, “2Q results were below expectations across the board as management lowered its full-year sales and EPS guidance. Following somewhat weaker competitor results, the shortfall is disappointing, but not totally unexpected. While the company reiterated its $1+ bn FCF guidance and repurchased $159 mm of shares in the quarter, it will likely need to make clearer plans to cut costs for investors to believe in medium-term cash flows.”

Staples closed on Tuesday at $13.46.

Latest Ratings for SPLS

DateFirmActionFromTo
Jul 2015Evercore PartnersUpgradesSellHold
Apr 2015JefferiesUpgradesHoldBuy
Apr 2015BB&T CapitalUpgradesHoldBuy

View More Analyst Ratings for SPLS
View the Latest Analyst Ratings

Posted-In: Morgan StanleyAnalyst Color Reiteration Analyst Ratings

 

Related Articles (SPLS)

Get Benzinga's Newsletters