UPDATE: Citigroup Reiterates Neutral Rating, Lowers PT on Blackhawk Network Holdings Following Mixed Quarter Results

In a report published Friday, Citigroup analyst Ashwin Shirvaikar reiterated a Neutral rating on Blackhawk Network Holdings HAWK, but lowered the price target from $26.00 to $25.00. In the report, Citigroup noted, “HAWK reported another mixed quarter with revenues missing consensus despite a recovery in load volume growth but EPS beating on a better-than-expected margin performance. For the seasonally important 4Q, commentary implied a general continuation of recent trends with load volume growth, remaining in the high teens. As discussed below, our forward ests are moving slightly lower (aside from the 3Q EPS beat) as we temper our near-term growth expectations. Given that HAWK's story/attraction is largely predicated on its strong growth, the recent disappointments on that front make the stock pullback justified for now. We are lowering our price target to $25 and we maintain our Neutral rating on HAWK.” Blackhawk Network Holdings closed on Thursday at $20.98.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: Analyst ColorPrice TargetAnalyst RatingsAshwin ShirvaikarCitigroup
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!