Soleil Securities Upgrades United Stationers (USTR) to Gradually Accumulate

November 2, 2009 8:43 AM EST

Soleil Securities upgrades United Stationers (Nasdaq: USTR) to Gradually Accumulate. Price target increased from $53 to $63.

Soleil analyst says, "3Q09 earnings of $1.38 per share (vs last year's adjusted $1.26) were 38 cents above our estimate on good expense control, with sales $29 million (or 2%) more than our forecast. Strong cash flow resulted in a $272 million reduction in debt (a 38% decline) over the past year, with the debt-to-capitalization ratio down to 40% (vs 55% a year earlier). Factoring in the 3Q out-performance and slightly raising our 4Q estimate yields and EPS estimate for 2009 of $3.95 per share (vs $3.52 previously), with our 2010 estimate raised to $4.30 per share (from $3.88)."

To see more analyst ratings on USTR Click Here.

United Stationers Inc., through its subsidiaries, engages in the wholesale distribution of business products in North America.

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