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

In a report published Wednesday, Jefferies reiterated its Hold rating on Staples (NASDAQ: SPLS), and raised its price target from $12.00 to $15.00.

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.”

Staples closed on Tuesday at $14.65.

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