Market Overview

Morgan Stanley Reiterates Overweight Rating on Staples

Share:
Related SPLS
Double-Digit Upside For These 3 Arbitrage Plays
Benzinga's Top #PreMarket Losers
M&A Daily: Jeff Bezos's Head Is In The Cloud (Seeking Alpha)

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
Aug 2015CitigroupMaintainsNeutral
Jul 2015Evercore PartnersUpgradesSellHold
Apr 2015JefferiesUpgradesHoldBuy

View More Analyst Ratings for SPLS
View the Latest Analyst Ratings

Posted-In: Morgan StanleyAnalyst Color Reiteration Analyst Ratings

 

Related Articles (SPLS)

View Comments and Join the Discussion!

Get Benzinga's Newsletters