KeyBanc Reiterates a 'Buy' on Lumber Liquidators (LL); Raises Price Target & EPS Estimates
LL Hot Sheet
Rating Summary:5 Buy, 5 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 7 | New: 23
KeyBanc reiterates a 'Buy' rating on Lumber Liquidators (NYSE: LL). Price target raised to $18 from $15.
KeyBanc analyst says, "We are becoming more positive on the housing outlook for 2H09 and 2010. We've modeled in slightly better comps for mature stores and have built a waterfall comp analysis to better demonstrate the positive tailwind LL has from new store growth. As a result, we are raising our EPS estimates for 2009 to $0.84 from $0.80, now based on a -4% comp vs. -5% previously. We are raising our 2010 estimate to $0.99 from $0.90. Management guidance for 2009 is $0.76-$0.86 (representing growth of 1-15%) and FC is $0.82. Sales are expected to grow 7-10%, primarily driven by 30-36 new stores (representing 20-24% growth). Comps are expected to decrease low to mid single digits, which would outpace plans from home improvement competitors."
Lumber Liquidators, Inc. (Lumber Liquidators) is a specialty retailer of hardwood flooring in the United States.
KeyBanc analyst says, "We are becoming more positive on the housing outlook for 2H09 and 2010. We've modeled in slightly better comps for mature stores and have built a waterfall comp analysis to better demonstrate the positive tailwind LL has from new store growth. As a result, we are raising our EPS estimates for 2009 to $0.84 from $0.80, now based on a -4% comp vs. -5% previously. We are raising our 2010 estimate to $0.99 from $0.90. Management guidance for 2009 is $0.76-$0.86 (representing growth of 1-15%) and FC is $0.82. Sales are expected to grow 7-10%, primarily driven by 30-36 new stores (representing 20-24% growth). Comps are expected to decrease low to mid single digits, which would outpace plans from home improvement competitors."
Lumber Liquidators, Inc. (Lumber Liquidators) is a specialty retailer of hardwood flooring in the United States.
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