Jefferies Maintains a 'Buy' on Pier 1 Imports (PIR); Q2 Should Satisfy

August 30, 2012 7:27 AM EDT
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Price: $8.17 +0.25%

Rating Summary:
    5 Buy, 15 Hold, 5 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 3 | Down: 5 | New: 17
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Jefferies maintains a 'Buy' on Pier 1 Imports (NYSE: PIR) price target of $20.00.

Analyst, John Marrin, said, "Pier 1 releases preliminary 2Q results first thing in the morning. We’re not envisioning any fireworks and things feel pretty balanced here. While the stock has been a very strong performer in recent weeks, expectations are not terribly high and we believe the risk of missing numbers is low. We continue to view this as excellent long-term growth story predicated on the "Drive to $225" that we outlined in our June initiation."

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 $18.24 yesterday.

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