Barclays Maintains an 'Equalweight' on 99 Cents Only (NDN); Tweaks 2012-13 EPS Estimates
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Price: $22.01 --0%
Rating Summary:
1 Buy, 3 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
1 Buy, 3 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade NDN Now!
Barclays maintains an 'Equalweight' on 99 Cents Only (NYSE: NDN), price target lowered from $21 to $19.
Barclays analyst says, "Given the current macro economic environment, we believe it may be difficult to get the financing to fund the debt portion of management's leveraged buyout offer. We also think the likelihood of a bid above management's current take private offer of $19.09, at least in the short term, is very low. As a result, we are lowering our price target to $19...We are maintaining our 2Q12 EPS of $0.21 but lowering our FY12 and FY13 EPS each by $0.02 to $1.14 and $1.29, respectively."
For more ratings news on 99 Cents Only click here and for the rating history of 99 Cents Only click here.
Shares of 99 Cents Only closed at $18.00 yesterday, with a 52 week range of $14.32-$20.75.
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Barclays analyst says, "Given the current macro economic environment, we believe it may be difficult to get the financing to fund the debt portion of management's leveraged buyout offer. We also think the likelihood of a bid above management's current take private offer of $19.09, at least in the short term, is very low. As a result, we are lowering our price target to $19...We are maintaining our 2Q12 EPS of $0.21 but lowering our FY12 and FY13 EPS each by $0.02 to $1.14 and $1.29, respectively."
For more ratings news on 99 Cents Only click here and for the rating history of 99 Cents Only click here.
Shares of 99 Cents Only closed at $18.00 yesterday, with a 52 week range of $14.32-$20.75.
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