Party City (PRTY) Stands Out With Catalysts For Comp Acceleration - BofA

BofA/Merrill Lynch analyst Curtis Nagle reiterated a Buy rating and $10.00 price target on Party City (NYSE: PRTY) highlighting the company as one of few with material upcoming catalysts. The analyst believes a large and underappreciated new growth opportunity in wholesale among other events will cause a reacceleration of earnings growth via increasing same-store sales
(comps), accelerating debt pay downs and reaccelerating share repurchases.

The analyst stated "PRTY is coming out of a long period of volatile and largely disappointing comps due to unfavorable Halloween timing, seasonal shifts, China tariff disruptions and helium shortages. Excluding these factors, comps have been far less volatile and better than the reported or unadjusted numbers appear".

For an analyst ratings summary and ratings history on Party City click here. For more ratings news on Party City click here.

Shares of Party City closed at $5.20 yesterday.

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