Office Depot (ODP) and OfficeMax (OMX) Ripe for M&A

Article Related Articles (1) Stock Quotes (2) Comments (0)

Analyst at Goldman Sachs today put out an interesting research note on the retail office products space. In the note, analysts raised their assessment of M&A probability, which while not an indication of a specific event indicates conditions are ripe.

Office Depot, Inc. (NYSE: ODP) and OfficeMax Incorporated (NYSE: OMX) both score rankings of 1, the highest ranking possible. To reflect this, Goldman raises its price target on both stocks.

Office Depot's price target was increased to $4 from $3, and OfficeMax's price target was increased to $11 from $9.50.

Both stock are Neutral-rated.

For an analyst ratings summary and ratings history on Office Depot (NYSE: ODP) click here. For more ratings news on Office Depot click here.

Shares of Office Depot closed at $4.37 yesterday, with a 52 week range of $1.51-$4.68.

---

Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW

---

*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here

---

---

You May Also Be Interested In

• UPDATE: UBS Downgrades Carnival (CCL) to Neutral; Worst May Not Be Behind
• UBS Raises PT on Tesoro (TSO)
• Goldman Sachs Downgrades Thoratec (THOR) to Neutral

Create E-mail Alert Related Categories

Analyst Comments, Analyst PT Change, Mergers and Acquisitions

Related Entities

Goldman Sachs

Add Your Comment

Name

Subject

Body

Share on Facebook

Verification
can't see the text?
click here to refresh the image.
what's this?