In a report published Tuesday, J.P. Morgan analyst Christopher Horvers initiated coverage on The Container Store Group TCS with an Overweight rating and $44.00 price target.
In the report, J.P. Morgan noted, “We are initiating coverage on The Container Store with an Overweight rating and a $44 Dec 2014 price target based on: (1) ~10% unit growth and ample white space in many top markets; (2) the lack of direct competition combined with the unique nature of the concept; and (3) the potential for better-than-expected store productivity and incremental margins leading to earnings upside.”
The Container Store Group closed on Monday at $38.20.
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