KNOT Upgraded On Valuation

Analysts at ThinkEquity Partners upgrade The Knot Inc (NASDAQ: KNOT) from "hold" to "buy."

Knot’s shares fell significantly following the Q4 earnings release due to a greater-than-expected negative impact from the Macy's (NYSE: M) renegotiation. “While the Macy's departure presents near-term challenges for The Knot, the 16% pullback in the stock over the past two days (versus the NASDAQ flat) is overdone, in our view,” the analysts say.

KNOT announced yesterday that its board has approved the repurchase of up to $50 million of its common stock which would provide solid support to the stock at current levels, the analysts mention. The company’s cash position continues to be strong.

More Analyst Ratings here