In a report published Monday, Stifel analyst David Schick downgraded the rating on The Container Store Group TCS from Buy to Hold, and removed the $43.00 price target.
In the report, Stifel noted, “We are downgrading from Buy to Hold. We think the macro (housing) story could limit valuation expansion chances in 2014. Within TCS, too, we simply expect some core categories will feel the impact of slower housing turns (elfa installed closets, for example). We believe the Street will be coming to the conclusion, over the coming months, that housing is less healthy and housing-related retailers have some level of revenue and margin risk, and therefore some valuation ceiling.”
The Container Store Group closed on Friday at $35.17.
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