Market Overview

UPDATE: Stifel Nicolaus Raises PT to $23 on La-Z-Boy Incorporated on Strong Results

Related LZB
A Peek Into The Markets: U.S. Stock Futures Flat Ahead Of Economic Data
Keep an Eye on These 12 Stocks for December 1, 2016
Stocks Hit New Highs As Market Stages Big Rally (Investor's Business Daily)

Stifel Nicolaus maintained La-Z-Boy Incorporated (NYSE: LZB) with a Buy rating and raised the price target from $18.00 to $23.00.

Stifel Nicolaus noted, "Clearly, investors were as enthused with La-Z-Boy's 3Q sales gain of 10.3% y/y as we were; the stock moved up 11.5% (compared to a 1.2% decline in the S&P 500) on Wednesday, following the earnings release. EPS of $0.32 beat our $0.22 estimate nicely (even after removing $0.04 of gains from sales of investments). This quarter did not have the same level of “noise” from 2Q, when there were a variety of incentive compensation accruals that temporarily hurt profitability. … We think that despite the boost in share price on Wednesday, the stock still shows a relatively attractive valuation, trading at 7x our FY14 EBITDA estimate."

La-Z-Boy Incorporated closed at $17.23 on Wednesday.

Latest Ratings for LZB

Oct 2016KeyBancMaintainsOverweight
Aug 2016Longbow ResearchInitiates Coverage onNeutral
Mar 2016Sidoti & Co.Initiates Coverage onBuy

View More Analyst Ratings for LZB
View the Latest Analyst Ratings

Posted-In: Stifel NicolausAnalyst Color Price Target Analyst Ratings


Related Articles (LZB)

View Comments and Join the Discussion!