UPDATE: Piper Jaffray Upgrades Big 5 Sporting Goods to Overweight; Margin Inflection Near Inflection
Piper Jaffray raised its rating on Big 5 Sporting Goods (NASDAQ: BGFV) and increased its price target from $8 to $12.
Piper Jaffray commented, "We are upgrading BGFV from Neutral to Overweight and raising our price target from $8 to $12 as improving comp trends and a depressed margin structure set the stage for accelerated earnings growth in the second half of 2012 and into 2013. … As merchandise margin and SG&A leverage both continue to expand, we believe operating margins need only recapture half of the decline from the prior peak of 8.2% (vs. 2.1% in 2011) to drive earnings power of $1.50 over the next several years."
Big 5 Sporting Goods closed at $8.52 on Friday.
Latest Ratings for BGFV
|Feb 2016||Stifel Nicolaus||Upgrades||Hold||Buy|
|Jan 2016||SunTrust Robinson Humphrey||Maintains||Neutral|
|Jul 2015||Deutsche Bank||Maintains||Hold|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.