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In a report published Monday, Topeka Capital Markets analyst Victor Anthony upgraded the rating on
HSNHSNI from Hold to Buy, and raised the price target from $60.00 to $67.00.
In the report, Topeka Capital Markets noted, “We are upgrading the shares of HSN to Buy from Hold and setting a $67 price target (previously $60). Why now? First, following a no growth quarter in Q1, we believe TV Shopping growth trends have been improving. Second, infrastructure investments should drive customer growth, spend per customer, retention, and increase purchase frequency. Third, we see the potential for management to use their low levered capital structure to drive equity returns. Lastly, HSN remains an attractive acquisition target.”
HSN closed on Friday at $57.10.
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