KeyBanc Downgrades Cost Plus (CPWM) to Hold; Valuation Call
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Price: $22.00 --0%
Rating Summary:
1 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
1 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade CPWM Now!
KeyBanc downgraded Cost Plus (NASDAQ: CPWM) from Buy to Hold.
Analyst, Bradley B. Thomas, said, "Cost Plus reported strong 1Q12 EPS that was $0.04 above the high-end of guidance. Furthermore, Cost Plus posted positive 1Q earnings for the first time since 2005 (or 2004, without making adjustments for one-time items). Strong sales and comp momentum continued through the quarter, and 2Q is off to a similar start. The Company continues to execute on its turnaround and we believe CPWM will be a good fit within the Bed Bath & Beyond Inc. (NASDAQ: BBBY) portfolio of brands. We are downgrading CPWM as the stock has essentially reached both our price target (which is the transaction price), though we still have a positive view on underlying fundamentals."
KeyBanc raises estimates: 2012E: $1.26 from $1.10...2013E: $1.30 from $1.25
For an analyst ratings summary and ratings history on Cost Plus click here. For more ratings news on Cost Plus click here.
Shares of Cost Plus closed at $21.91 yesterday, with a 52 week range of $5.57-$21.97.
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Analyst, Bradley B. Thomas, said, "Cost Plus reported strong 1Q12 EPS that was $0.04 above the high-end of guidance. Furthermore, Cost Plus posted positive 1Q earnings for the first time since 2005 (or 2004, without making adjustments for one-time items). Strong sales and comp momentum continued through the quarter, and 2Q is off to a similar start. The Company continues to execute on its turnaround and we believe CPWM will be a good fit within the Bed Bath & Beyond Inc. (NASDAQ: BBBY) portfolio of brands. We are downgrading CPWM as the stock has essentially reached both our price target (which is the transaction price), though we still have a positive view on underlying fundamentals."
KeyBanc raises estimates: 2012E: $1.26 from $1.10...2013E: $1.30 from $1.25
For an analyst ratings summary and ratings history on Cost Plus click here. For more ratings news on Cost Plus click here.
Shares of Cost Plus closed at $21.91 yesterday, with a 52 week range of $5.57-$21.97.
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