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UPDATE: Jefferies Reiterates Hold Rating, Raises PT on Office Depot on Strong Secular Trends

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In a report published Wednesday, Jefferies reiterated its Hold rating on Office Depot (NYSE: ODP), and raised its price target from $3.00 to $5.00.

Jefferies noted, “Strong secular trends in the office products industry and increased competition facing the office superstore (“OSS”) channel from the club, mass, and online channels presents a compelling case for consolidation in the office products industry.”

Office Depot closed on Tuesday at $5.02.

Latest Ratings for ODP

DateFirmActionFromTo
Oct 2017JP MorganDowngradesNeutralUnderweight
Sep 2017Bank of AmericaReinstatesBuy
Aug 2017Deutsche BankMaintainsHold

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Posted-In: JefferiesAnalyst Color Price Target Analyst Ratings

 

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