Market Overview

UPDATE: J.P. Morgan Reiterates Overweight Rating, Raises PT on Staples

Share:
Related SPLS
13 Predictions For The Hardline Industry In 2016
Staples Remains 'Committed' To Completing Acquisition Of Office Depot, Extends Termination Date To May 16
Tracking Yacktman Asset Management's Portfolio - Q4 2015 Update (Seeking Alpha)

In a report published Wednesday, J.P. Morgan & Co. reiterated its Overweight rating on Staples (NASDAQ: SPLS), and raised its price target from $14.00 to $17.00.

J.P. Morgan noted, “Following its recent disappointing earnings report (including lowered guidance) and competitors' commentary at an industry conference we are updating our price target and estimates for SPLS. Our 2012 EPS estimate is lowered to $1.37 from $1.48 (including the $0.03 miss to 2Q) and 2013 is reduced to $1.40 from $1.60. These compare to consensus of $1.37 and $1.43, respectively. FY12 guidance is now for EPS up LSD (or ~$1.38-$1.41 from $1.46-$1.49). We are establishing our price target for Dec 2013 (from 2012) and simultaneously lowering it to $14 (from $17).”

Staples closed on Tuesday at $11.37.

Latest Ratings for SPLS

DateFirmActionFromTo
Dec 2015Bank of AmericaDowngradesBuyUnderperform
Dec 2015KeyBancDowngradesOverweightSector Weight
Dec 2015BB&T CapitalDowngradesBuyHold

View More Analyst Ratings for SPLS
View the Latest Analyst Ratings

Posted-In: J.P. Morgan & Co.Analyst Color Price Target Analyst Ratings

 

Related Articles (SPLS)

Get Benzinga's Newsletters