UPDATE: Jefferies Initiates Coverage on Blackhawk Network Holdings with Buy Rating, $30 PT on Multiple Positive Factors

In a report published Tuesday, Jefferies analyst Ramsey El-Assal initiated coverage on Blackhawk Network Holdings HAWK with a Buy rating and $30.00 price target. In the report, Jefferies noted, “We initiate on HAWK with a Buy rating and $30 price target. Key points in our thesis include: 1) solid business model with robust organic growth profile, 2) long, sticky contracts and duopoly market structure form a strong competitive moat, 3) large global opportunity for gift and other prepaid cards. In addition, we feel strong fundamentals are sustainable, and Street estimates may be conservative following the recent IPO.” Blackhawk Network Holdings closed on Monday at $23.83.
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Posted In: Analyst ColorInitiationAnalyst RatingsJefferiesRamsey El-Assal
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