UPDATE: Wedbush Securities Reiterates Neutral Rating, Lowers PT on Family Dollar Stores
In a report published Monday, Wedbush Securities reiterated its Neutral rating on Family Dollar Stores (NYSE: FDO), but lowered its price target from $68.00 to $63.00.
Wedbush Securities noted, “Guidance for Q1 includes EPS of $0.69-$0.78, with comps up 4%-6%. When it reported fiscal Q4 results on October 3 rd, the company expected tough headwinds for the year on both the gross margin and expense lines, with higher markdowns and higher shrink in Q1 exacerbating this pressure, but expected benefits from global sourcing, private brands, and pricing initiatives to offset this as the year progresses. Q1 also faces headwinds from insurance, similar to Q4, including 60 bps, or about $10 million of benefit during Q1:12 from lower insurance expense.”
Family Dollar Stores closed on Friday at $62.73.
Latest Ratings for FDO
|Oct 2014||Deutsche Bank||Maintains||Hold|
|Sep 2014||UBS||Initiates Coverage on||Neutral|
|Jul 2014||Piper Jaffray||Upgrades||Underweight||Neutral|
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.