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UPDATE: Wedbush Reiterates Pier 1 Imports at Outperform on Outlook for December Comps

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Is Pier 1 More Focused Now Than Ever?

Wedbush maintained Pier 1 Imports (NYSE: PIR) at Outperform with a $22 price target.

Wedbush noted, "Both in-store and online, traffic and conversion gained strength through Q3. Our checks during December found strong traffic driven by new and well-differentiated assortments and very high service levels. Importantly, sales growth continues to be strong across all merchandise categories, including furniture, which should bode well for 2013 as the housing market continues to recover."

Pier 1 Imports closed at $19.28 on Thursday.

Latest Ratings for PIR

DateFirmActionFromTo
Apr 2015WedbushUpgradesNeutralOutperform
Apr 2015Morgan StanleyDowngradesEqual-weightUnderweight
Mar 2015OppenheimerUpgradesMarket PerformOutperform

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View the Latest Analyst Ratings

Posted-In: WedbushAnalyst Color Reiteration Intraday Update Analyst Ratings

 

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