Market Overview

UPDATE: Deutsche Bank Reiterates Buy Rating, Lowers PT on Pier 1 Imports

Related PIR
Earnings Scheduled For December 18, 2014
10 Must Watch Stocks for December 18, 2014
Making Money With Charles Payne: 11/25/14 (Fox Business)

In a report published Friday, Deutsche Bank reiterated its Buy rating on Pier 1 Imports (NYSE: PIR), but lowered its price target from $25.00 to $23.00.

Deutsche Bank noted, “PIR reported 3Q13 pro forma EPS of $0.25 though this included $0.01 from ‘lost sales' due to Hurricane Sandy. GAAP EPS were $0.22, and we add back $0.01 for a tax rate adjustment and $0.01 from expenses related to Sandy to arrive at $0.24 for the quarter. But we do not want to miss the forest for the trees as 3Q13 was a solid quarter regardless. Comps were better than expected and store-level margins remain strong. The offsets were some higher than expected costs on marketing and D&A, and a margin drag from the immature ecommerce business. We maintain our Buy rating as we continue to view PIR as one of the better sales and EPS growth stories in hardline retail.”

Pier 1 Imports closed on Thursday at $19.25.

Latest Ratings for PIR

DateFirmActionFromTo
Oct 2014Credit SuisseAssumesNeutral
Sep 2014Bank of America
Sep 2014BarclaysDowngradesOverweightEqualweight

View More Analyst Ratings for PIR
View the Latest Analyst Ratings

Posted-In: Deutsche BankAnalyst Color Price Target Analyst Ratings

 

Related Articles (PIR)

Around the Web, We're Loving...

Get Benzinga's Newsletters