Piper Jaffray Reiterates Outperform on Helen of Troy (HELE) Following Investor Meetings

Piper Jaffray maintained an Overweight rating and $110.00 price target on Helen of Troy (NASDAQ: HELE) following a series of management meetings. Investor meetings focused on themes including: portfolio management, brand equity, owned/licensed assets, growth acquisitions, and capital utility.

Analyst Stephanie Wissink commented, "We are reiterating our Overweight rating following a series of hosted investor meetings with CEO Julien Mininberg and VP of Business Development Jack Jancin in Europe, Baltimore, and Boston. FY17 guidance was recently issued well ahead of estimates on a comparable basis (ex $0.61 in non-comparable elements), and confidence in achieving and potentially beating was reinforced in meetings. Progress toward margin recapture by unlocking untapped value in the model is likely to be the theme over the next 1-2 years with a goal to complement financial engineering and mix with accelerated sales growth into peer group ranges (+MSD). Shares trade at a steep discount to peers, despite value creation potential. Our $110 PT is based on 16.5x FY18E (Feb-18) EPS."

For an analyst ratings summary and ratings history on Helen of Troy click here. For more ratings news on Helen of Troy click here.

Shares of Helen of Troy closed at $97.20 yesterday.

You May Also Be Interested In

• HSBC Downgrades Feng Tay Enterprises (9910:TT) to Hold
• Yageo Corp. (2327:TT) (YAGOY) PT Lowered to NT$656 at HSBC
• London Stock Exchange Group Plc. (LSEG:LN) (LNSTY) PT Raised to GBP88 at HSBC