UPDATE: Citigroup Initiates Tile Shop Holdings at Buy on Housing Strength
Citigroup initiated coverage on Tile Shop Holdings (NASDAQ: TTS) with a Buy rating and a $22.00 price target.
Citigroup noted, "We are initiating coverage of The Tile Shop with a Buy rating and $22 target price. We think the story benefits from an: 1) improving housing cycle; 2) a proprietary business model which differentiates it from competitors; 3) a strong product offering; 4) a legitimate square footage growth story (~25% increase per year)."
Tile Shop Holdings closed at $17.67 on Friday.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.