99 Cents Reports To The Upside For 2Q

Deutsche Bank has published a research report on the 99 Cents Only Stores

after the company reported an upside to its 2Q results. In the report, Deutsche Bank writes "NDN reported pro forma EPS of $0.18 as compared to consensus of $0.17. Sales and comps had already been reported below expectations, with the upside coming from better gross margin and expense controls, though more so on the gross margin side. We maintain our Hold rating as our price target generated by our model is in line with current market values, implying that future potential margin improvements are already priced into the stock." Deutsche Bank maintains its Hold rating and $18 price target. 99 Cents Only Stores closed yesterday at $15.72.