Oscar Gruss Starts Collective Brands (PSS) at Buy, More Needs to Be Done for an Acquisition
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Price: $21.72 --0%
Rating Summary:
3 Buy, 2 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
Rating Summary:
3 Buy, 2 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
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Oscar Gruss initiates coverage on shares of Collective Brands (NYSE: PSS) with a Buy rating and $17 price target.
Back in August the company announced that it was conducting a strategic review and noted plans to cut roughly 475 stores over the next three years. 315 of the expected store closers are scheduled to be happen before the end of 2011.
The firm highlights that the Board at PSS knows how poorly its domestic sector is performing and anticipates more initiatives will be announced to help improve its retail business.
An analyst at Oscar Gruss comments, "In its current state, we do not think that PSS will be considered a premiere target by retail-focused private equity firms."..."The announced store closing are a good start, but we believe management has more to do before a chain can command a premium in an acquisition."
For more ratings news on Collective Brands click here and for the rating history of Collective Brands click here.
Shares of Collective Brands closed at $14.01 yesterday.
Back in August the company announced that it was conducting a strategic review and noted plans to cut roughly 475 stores over the next three years. 315 of the expected store closers are scheduled to be happen before the end of 2011.
The firm highlights that the Board at PSS knows how poorly its domestic sector is performing and anticipates more initiatives will be announced to help improve its retail business.
An analyst at Oscar Gruss comments, "In its current state, we do not think that PSS will be considered a premiere target by retail-focused private equity firms."..."The announced store closing are a good start, but we believe management has more to do before a chain can command a premium in an acquisition."
For more ratings news on Collective Brands click here and for the rating history of Collective Brands click here.
Shares of Collective Brands closed at $14.01 yesterday.
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