Jefferies Starts At Home Group (HOME) at Buy
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Jefferies initiates coverage on At Home Group (NYSE: HOME) with a Buy rating and a price target of $20.00.
Analyst Daniel Binder commented, "We are upbeat on the At Home growth story and believe it has an opportunity to profitably expand its base from 115 to 600 over time, growing at a high-teens unit CAGR. Thus far, management has executed its low cost, low-price value strategy well. With its unit growth should come increased scale, improved sourcing and fixed cost leverage. Sourcing gains should enable the company to reinvest in its value proposition and in turn gain market share."
Shares of At Home Group closed at $16.08 yesterday.
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