Office Depot, OfficeMax Shares Higher as Analyst Considers Potential Sector Consolidation (ODP) (OMX)
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Price: $28.00 --0%
Rating Summary:
3 Buy, 12 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
3 Buy, 12 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Stocks in the Office Supplies sector are moving higher Monday amid renewed consolidation chatter following comments from Office Depot's (NYSE: ODP) Neil Austrian last week that his company is "very open" to such an idea. The comments were highlighted in a research note from Oppenheimer this morning.
The Office Depot exec specifically mentioned OfficeMax (NYSE: OMX) as a peer which could be worked with.
Oppenheimer maintains its current Market Perform rating and $5 price target on shares of Office Depot.
Shares of Office Depot are up more than 6 percent to $4.06 Monday, while shares of OfficeMax are up a sharper 8 percent to $7.68.
The Office Depot exec specifically mentioned OfficeMax (NYSE: OMX) as a peer which could be worked with.
Oppenheimer maintains its current Market Perform rating and $5 price target on shares of Office Depot.
Shares of Office Depot are up more than 6 percent to $4.06 Monday, while shares of OfficeMax are up a sharper 8 percent to $7.68.
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