Market Overview

Morgan Stanley Reiterates Overweight Rating on Staples

Related SPLS
USell: An Unknown ReCommerce Marketplace With An Impressive Growth Story
Office Depot's Strategic Initiatives Lead to 52-Week High
Staples to Offer 110% Back-to-School Price Match (Fox Business)

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
Sep 2014Credit SuisseUpgradesMarket PerformOutperform
Jun 2014Morgan StanleyInitiates Coverage onUnderweight
May 2014Goldman SachsDowngradesNeutralSell

View More Analyst Ratings for SPLS
View the Latest Analyst Ratings

Posted-In: Morgan StanleyAnalyst Color Reiteration Analyst Ratings

 

Related Articles (SPLS)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters