Jefferies Starts Pier 1 Imports (PIR) at Buy

June 13, 2012 7:15 AM EDT
Get Alerts PIR Hot Sheet
Price: $6.77 -2.31%

Rating Summary:
    8 Buy, 8 Hold, 3 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 35 | Down: 25 | New: 13
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Jefferies initiates coverage on Pier 1 Imports (NYSE: PIR) with a Buy. PT $20.00.

The firm comments, "Although its turnaround is complete, Pier 1 still has one of the best top-line growth stories in retail. The centerpiece is the Retail segment's efforts to increase sales productivity to $225/sqft. from $184/sqft. last year. Investors getting on board at current levels are getting a free option on the DTC business, which goes live in late July."

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 $16.01 yesterday.

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