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UPDATE: Piper Jaffray Maintains Overweight on Tile Shop, Confident in Business Model

Benzinga's Option Alert Recap From October 16
Mid-Afternoon Market Update: Tile Shop Drops On Weak Sales Forecast; Endocyte Shares Spike Higher

In a report published Monday, Piper Jaffray maintained its Overweight rating and $21 price target on Tile Shop (NYSE: TTS)

Piper Jaffray reported that, “Speaking with management and following it with a store tour, reaffirms our belief that TTS has an extremely powerful business model that can be scaled up significantly. Furthermore, all of our industry work suggests a strengthening industry backdrop in early 2013 and the development of a flooring super-cycle, particularly for hard surface flooring such as tile and hardwood. All in, we remain fully confident that strong top line trends at Tile Shop remain intact and that near-term expense pressure will not be a hang-up on share appreciation. With a company this early in its growth cycle, we encourage investors to focus on the top line trends the opportunities it provides for operating leverage in the out years (2014 & 2015).”

Shares of Tile Shop closed at $17.80 on Friday.

Latest Ratings for TTS

Oct 2017CitigroupMaintainsNeutral
Oct 2017Loop CapitalMaintainsHold
Oct 2017CitigroupMaintainsNeutral

View More Analyst Ratings for TTS
View the Latest Analyst Ratings

Posted-In: Piper JaffrayAnalyst Color Reiteration Analyst Ratings


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