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Deutsche Bank Starts Pier 1 Imports (PIR) at Buy, the Comeback Kid

October 9, 2012 7:54 AM EDT Send to a Friend
Get Alerts PIR Hot Sheet
Price: $11.68 -1.77%

Rating Summary:
    6 Buy, 10 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 16 | Down: 12 | New: 33
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Deutsche Bank initiates coverage on Pier 1 Imports (NYSE: PIR) with a Buy and $25 price target calling it the "Comeback Kid."

"We believe PIR is benefiting from favorable industry trends which are amongst the best in hardline retail, along with multiple internal initiatives," the analyst said. "We believe these along with market share gains as PIR expands its ecommerce presence over the next several years will drive a 4-year sales CAGR of 9.7% and 4-year EPS CAGR of 22.0%. While the top line is heavily comp driven, the sales CAGR is amongst the best in class while the EPS growth is also near best in class. We also believe the Street is under-valuing the longer-term prospects of the company."

For an analyst ratings summary and ratings history on Pier 1 Imports click here. For more ratings news on Pier 1 Imports click here.

Shares of Pier 1 Imports closed at $19.26 yesterday.




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