UPDATE: Sterne Agee Reiterates Buy Rating, Raises PT on The Buckle
In a report published Monday, Sterne Agee Group reiterated its Buy rating on The Buckle (NYSE: BKE), and raised its price target from $50.00 to $54.00.
Sterne Agee noted, “While we are maintaining our estimates, we are raising our price target on BKE to $54 from $50 assuming a higher valuation of 14.5x forward given the strong cash flow outlook and opportunities ahead for continued special dividend payments providing a strong total return. The total yield offered by BKE at current prices is about 11.1%.”
The Buckle closed on Friday at $47.68.
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