Piper Jaffray Raises Price Target on Alliance Data (ADS) to $77
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Piper Jaffray raises its price target on Alliance Data Systems (NYSE: ADS) from $74 to $77, while reiterating its Buy rating.
Following Alliance Data's strong Q2 earnings and raised guidance yesterday, the firm said it has become "incrementally more positive." Piper notes that Alliance Data's three segments are "very well positioned to capitalize on sizeable opportunities..." Piper also points out that the stock's valuation is currently at almost half its historical average.
Piper raised its FY08, FY09 and FY10 EPS estimates from $4.31, $4.96, and $5.68 to $4.35, $5.15, and $5.83, respectively. The Street estimates for FY08 and FY09 are $4.31 and $4.97, respectively.
Shares of Alliance Data are up nearly 9% today on the back of its earnings report. Despite the sharp gap higher this morning, Piper's $77 price target still represents a potential return of about 36% from current levels.
Alliance Data Systems Corporation, together with its subsidiaries, provides data-driven and transaction-based marketing and customer loyalty solutions.
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