Jefferies Lifts Numbers on Pier 1 Imports (PIR)

March 18, 2013 8:17 AM EDT Send to a Friend
Get Alerts PIR Hot Sheet
Price: $13.89 -1.77%

Rating Summary:
    8 Buy, 8 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 19 | Down: 27 | New: 16
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Jefferies raised its estimates and price target on Buy-rated Pier 1 Imports (NYSE: PIR) from $25 to $28.

"Sales growth will continue to outperform consensus in the coming years as the loyalty program drives incremental spending along with e-com and the initiative to expand the assortment," the analyst said. "Overblown concerns around GM and elevated SG&A have kept these shares from getting out too far ahead, but after PIR guides FY14 EPS to consensus in mid-April, we see a round of beats and raises pushing these shares higher over the next 12 months."

The firm raised FY13 EPS from $1.18 to $1.19.

For an analyst ratings summary and ratings history on Pier 1 Imports click here. For more ratings news on Pier 1 Imports click here.

Shares of Pier 1 Imports closed at $22.79 yesterday.

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