FBR Capital Reiterates an 'Outperform' on Office Depot (ODP); Meeting with Mgmt; Risk/Reward Improving
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Price: $28.00 --0%
Rating Summary:
3 Buy, 12 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
3 Buy, 12 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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FBR Capital reiterates an 'Outperform' on Office Depot (NYSE: ODP), PT increased from $6.50 to $7.
FBR analyst says, "Office Depot is building off of trough sales and margin trends and has upside prospects of hiring a new CEO, the pursuit of which is currently under way. The board of directors has seen some positive change in its makeup since June 2009, with the addition of three members (of 11) from private equity firm BC Partners. In addition, there is added support to the downside of monetizable assets, namely, the International segment, which is 29% of sales, and the company’s joint venture in Mexico."
"We adjust our 2011E EPS estimate to $0.03 from $0.01, and this compares with the Street consensus estimate for a loss per share of ($0.03). For 2012E, we adjust our EPS estimate to $0.26 from $0.20, and this compares with the Street consensus estimate of $0.17."
For more ratings news on Office Depot click here and for the rating history of Office Depot click here.
Shares of Office Depot closed at $4.27 yesterday.
FBR analyst says, "Office Depot is building off of trough sales and margin trends and has upside prospects of hiring a new CEO, the pursuit of which is currently under way. The board of directors has seen some positive change in its makeup since June 2009, with the addition of three members (of 11) from private equity firm BC Partners. In addition, there is added support to the downside of monetizable assets, namely, the International segment, which is 29% of sales, and the company’s joint venture in Mexico."
"We adjust our 2011E EPS estimate to $0.03 from $0.01, and this compares with the Street consensus estimate for a loss per share of ($0.03). For 2012E, we adjust our EPS estimate to $0.26 from $0.20, and this compares with the Street consensus estimate of $0.17."
For more ratings news on Office Depot click here and for the rating history of Office Depot click here.
Shares of Office Depot closed at $4.27 yesterday.
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