UPDATE - UBS Initiates Coverage on Staples (SPLS) with a Buy; Easily an Opportunity
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Price: $55.47 +0.56%
Rating Summary:
3 Buy, 15 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
Rating Summary:
3 Buy, 15 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
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UPDATE - UBS initiates coverage on Staples (Nasdaq: SPLS) with a Buy rating. PT $19.
UBS analyst says, "We think SPLS shares offer an attractive risk/reward, as the company is likely to benefit from a host of scenarios for the office supply sector. Even if the challenging industry conditions persist for an extended period, we expect the stock will be supported by an inexpensive valuation and the company’s strong free cash flow."
"We see the sector consolidating in the intermediate term, benefitting SPLS - Even without OfficeMax (NYSE: OMX) and OfficeDepot (NYSE: ODP) coming together, we think Staples will be a share gainer over the next 12-24 months. Its deeper push into core technology should enable it to stem the declines in other categories such as GPS devices and corded/cordless phones."
UBS analyst says, "We think SPLS shares offer an attractive risk/reward, as the company is likely to benefit from a host of scenarios for the office supply sector. Even if the challenging industry conditions persist for an extended period, we expect the stock will be supported by an inexpensive valuation and the company’s strong free cash flow."
"We see the sector consolidating in the intermediate term, benefitting SPLS - Even without OfficeMax (NYSE: OMX) and OfficeDepot (NYSE: ODP) coming together, we think Staples will be a share gainer over the next 12-24 months. Its deeper push into core technology should enable it to stem the declines in other categories such as GPS devices and corded/cordless phones."
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