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Deutsche Bank Maintains Pier One at Buy on eCommerce Growth and Favorable Valuation

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Deutsche Bank published a report Thursday, as analyst Adam Sindler reiterated a Buy rating on Pier 1 Imports (NYSE: PIR) and maintained its price target at $25.

In the report, Sindler wrote, "While sales have out-performed expectations over the past two quarters, EPS have only come in line with guidance and in this most recent quarter, were below FactSet consensus. Each time, the miss has come on expenses as investments in the growing ecommerce business have offset the sales upside. While we acknowledge that PIR should need to grow headcount – as expansion of its buying/planning/allocating teams have been core to the company's turnaround – we also believe PIR needs to tighten its guidance and potentially lay out some of these investments more directly."

Pier One closed Wednesday at $22.16.




Follow Alex Biles on Twitter at @perfectlyaloof

Latest Ratings for PIR

DateFirmActionFromTo
Jan 2016KeyBancDowngradesOverweightSector Weight
Dec 2015Deutsche BankDowngradesHoldSell
Dec 2015Credit SuisseMaintainsNeutral

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