Market Overview

UPDATE: Jefferies Reiterates Hold Rating, Raises PT on Office Depot on Strong Secular Trends

Related ODP
Dow's Losing Streak Now Stands At 6 Days, S&P 500 And Nasdaq Slightly Positive
Bank Of America Comments On Hardlines Sector
Back to School Moves Online as Parents Hunt Deals (Fox Business)

In a report published Wednesday, Jefferies reiterated its Hold rating on Office Depot (NYSE: ODP), and raised its price target from $3.00 to $5.00.

Jefferies noted, “Strong secular trends in the office products industry and increased competition facing the office superstore (“OSS”) channel from the club, mass, and online channels presents a compelling case for consolidation in the office products industry.”

Office Depot closed on Tuesday at $5.02.

Latest Ratings for ODP

DateFirmActionFromTo
Jun 2014Morgan StanleyInitiates Coverage onEqual-weight
May 2014Goldman SachsUpgradesNeutralBuy
May 2014Credit SuisseUpgradesNeutralOutperform

View More Analyst Ratings for ODP
View the Latest Analyst Ratings

Posted-In: JefferiesAnalyst Color Price Target Analyst Ratings

 

Related Articles (ODP)

Around the Web, We're Loving...

Get Benzinga's Newsletters