Market Overview

An Analyst Gives 8 Reasons To Buy National Vision


National Vision Holdings Inc (NASDAQ: EYE), an optic retailer company that offers products and services for eye care needs, began trading as a public company in October.

The Analyst

Jefferies' Daniel Binder initiated coverage of National Vision's stock with a Buy rating and $36 price target.

The Thesis

National Vision should be seen as an "appealing" story in the retail market, as management has executed well on a strategy which could result in its store base growing from 996 units today to over 2,100, Binder said in a research report Monday.

The bullish case for the stock is also based on: 1) strong new store economics, 2) ability to gain market share in the "fragmented" retail sector, 3) a strong defense from online players through cheap prices, 4) a low-cost structure, 5) industry-wide favorable dynamics, 6) a business profile that is seen as more recession-resistant, 7) a strong record of offering attractive comparable store sales and profit growth, and 8) a strong management team.

The company's multiple strengths should result in a 10 percent compounded annual growth rate over the next five years and a 14 percent EBITDA CAGR over the same time period, Binder wrote. 

Price Action

Shares of National Vision closed Monday's session at $30.19, up 0.7 percent.

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Posted-In: Daniel Binder Eyecare IPO Jefferies retail retailersAnalyst Color Analyst Ratings


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