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Deutsche Bank Maintains Pier One at Buy on eCommerce Growth and Favorable Valuation

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Why This Analyst Is Maintaining A Buy On Pier 1 Despite A Tough Start To 2017

Deutsche Bank published a report Thursday, as analyst Adam Sindler reiterated a Buy rating on Pier 1 Imports (NYSE: PIR) and maintained its price target at $25.

In the report, Sindler wrote, "While sales have out-performed expectations over the past two quarters, EPS have only come in line with guidance and in this most recent quarter, were below FactSet consensus. Each time, the miss has come on expenses as investments in the growing ecommerce business have offset the sales upside. While we acknowledge that PIR should need to grow headcount – as expansion of its buying/planning/allocating teams have been core to the company's turnaround – we also believe PIR needs to tighten its guidance and potentially lay out some of these investments more directly."

Pier One closed Wednesday at $22.16.




Follow Alex Biles on Twitter at @perfectlyaloof

Latest Ratings for PIR

DateFirmActionFromTo
Jul 2017Credit SuisseMaintainsUnderperform
Jun 2017Gordon HaskettUpgradesReduceHold
May 2017Gordon HaskettInitiates Coverage OnReduce

View More Analyst Ratings for PIR
View the Latest Analyst Ratings

Posted-In: Deutsche BankAnalyst Color Reiteration Analyst Ratings

 

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