Deutsche Bank Upgrades Big 5 Sporting Goods (BGFV) to Buy
- BAT Reaches Deal to Acquire Reynolds American (RAI) for $49 Billion
- Morgan Stanley (MS) Tops Q4 EPS by 17c
- Trump, Brexit uncertainty hit stocks and dollar, gold jumps
- Noble Energy (NBL) to Acquire Clayton Williams Energy (CWEI) for $2.7B in Cash and Stock
- UnitedHealth Group (UNH) Tops Q4 EPS by 4c; Affirms Outlook
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
Deutsche Bank upgraded Big 5 Sporting Goods (NASDAQ: BGFV) from Hold to Buy with a price target of $16.50 (from $10.00). Analyst Mike Baker sees market share gains.
"We are upgrading Big 5 Sporting Goods to Buy from Hold for three reasons. These include 1) accelerating sales trends driven by market share gains after competitor liquidations; 2) profitability improvements from better merchandise margins and leverage on stronger sales; 3) higher earnings power from sales and profit increases that we do not yet believe are fully reflected in BGFV’s valuation. Our estimates go to $0.62 and $0.99 from $0.52 and $0.68 for 2016 and 2017 and our price target goes to $16.50 from $10 based on 16.5x our 2017 EPS forecast and our 15% long term EPS growth rate forecast. The biggest risks being increased online competition and rising costs in California," said Baker.
Shares of Big 5 Sporting Goods closed at $13.87 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- FBR Capital Remains Bullish on JPMorgan (JPM) Following 4Q EPS Beat
- Morgan Stanley Upgrades Texas Roadhouse (TXRH) to Equalweight
- Baird Upgrades Albemarle (ALB) to Outperform
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View, Upgrades
Related EntitiesDeutsche Bank, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!