UPDATE: Deutsche Bank Raises PT on Big 5 Sporting after In-Line 4Q12 Results
In a report published Wednesday, Deutsche Bank reiterated its Hold rating on Big 5 Sporting Goods Corporation (NASDAQ: BGFV), and raised its price target from $11.00 to $15.00.
Deutsche Bank noted, “Reports 4Q12 results in line with pre-announced range. Ahead of ICR, BGFV announced that comps and earnings would come in towards the high end of plan. BGFV reported 4Q12 comps of 6.5% and EPS of $0.19. We are encouraged by the fact that momentum has continued into 1Q13, driven by several factors that we discuss below. 1Q13 guidance was better than expected with guidance of $0.18 – $0.24 vs consensus of $0.09. While near-term trends are certainly better than expected, we maintain our Hold rating as we balance these trends with valuation levels that now reflect this strength.”
Big 5 Sporting Goods Corporation closed on Tuesday at $15.15.
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