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UPDATE: Topeka Capital Markets Raises PT on HSN on Updated Model Post 4Q12 Earnings Report

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In a report published Monday, Topeka Capital Markets reiterated its Hold rating on HSN (NASDAQ: HSNI), and raised its price target from $50.00 to $59.00.

Topeka Capital Markets noted, “We are updating our model post the 4Q12 earnings report last week. For 1Q13 we are estimating total Company revenues of $769.9mm, +3.0% YoY, Adjusted EBITDA of $63.4mm (8.2% margin), and GAAP EPS of $0.53. For full year 2013, we are estimating total Company revenues of $3.4B, +3.8% YoY, Adjusted EBITDA of $331.3mm (9.7% margin), and GAAP EPS of $3.00. We are raising our price target to $59 from $50 to reflect the inclusion of our 2014 adjusted EBITDA estimate in our sum-of-the-parts valuation from 2013 previously. We are maintaining our Hold rating on HSN. in our report we also include tidbits gleaned from the 10-K.”

HSN closed on Friday at $53.63.

Posted-In: Topeka Capital MarketsAnalyst Color Price Target Analyst Ratings

 

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