Wunderlich Securities Remains Confident in HSN Following Series of Meetings

In a report published Wednesday, Wunderlich Securities analyst Matthew Harrigan reiterated a Buy rating and 75.00 price target on

. In the report, Wunderlich Securities noted, “Yesterday we hosted a series of meetings for new HSN President Bill Brand, who also retains his chief marketing officer (CMO) position at overall HSN, Inc. (HSNI). Brand's mandate remains creating seminal retailing experiences and helping to morph the flagship HSN network into a lifestyle entertainment network. We think that HSN remains an archetype for retailers aiming to become media networks in the sense that they need direct tangencies, including entertainment and social media engagement with consumers. HSN's image repositioning is also showcased by Serena William's hosting her first New York Fashion Week show for HSN immediately following this year's U.S. Open win. We remain enthused on HSNi despite a still challenged U.S. consumer and maintain our $75 price target.” HSN closed on Tuesday at $60.17.