Piper Jaffray Upgrades Alliance Data Systems (ADS) to Buy; Adds to Alpha List
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Piper Jaffray upgrades Alliance Data Systems (NYSE: ADS) from Neutral to Buy and lowers its price target from $81.75 to $74. The firm also added Alliance Data Systems to its Alpha List.
The firm believes Alliance Data Systems will report EPS of $1.00 when it releases results on Wednesday of next week, slightly higher than the Street estimate of $0.99. Additionally, Piper notes that ADS has historically used its cash flow "to fund acquisitions..."
Piper raised its FY08 cash EPS estimate from $4.20 to $4.31 and set a FY09 EPS estimate of $4.96. The Street estimates are currently $4.30 for FY08 and $4.92 for FY09.
Piper calls ADS's two main growth engines its Loyalty and Epsilon segments.
Alliance Data Systems Corporation, together with its subsidiaries, provides data-driven and transaction-based marketing and customer loyalty solutions. [BCS]
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