UPDATE: Canaccord Genuity Reiterates Buy Rating, Raises PT on Lumber Liquidators Holdings on 4Q Upside
In a report published Wednesday, Canaccord Genuity reiterated its Buy rating on Lumber Liquidators Holdings (NYSE: LL), and raised its price target from $62.00 to $67.00.
Canaccord Genuity noted, “Lumber Liquidators beat our Q4 estimates on every important metric, with EPS ten cents ahead of us at $0.50 vs. $0.30 in the year-ago period. The company gave what we view as conservative 2013 guidance, and we are raising our estimates to the high end of the new outlook. Our DCF-based price target moves higher from $62 to $67/share.”
Lumber Liquidators Holdings closed on Tuesday at $64.81.
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