Benchmark Starts PriceSmart (PSMT) at Buy; Expansion in Existing and Into Adjacent Markets

Benchmark initiates coverage on PriceSmart (NASDAQ: PSMT) with a Buy. PT $70.00.

Benchmark analyst said, "We contend that the shares have upside potential, given the Company’s growth and operating margin opportunities. We believe over the next couple years, PriceSmart will continue to expand its store base, in adjacent real estate markets, strengthening its productivity loop, which could lead to years of revenue and earnings growth. Through driving efficiencies in its operations to pass savings on to its customers, we expect the Company to continue to drive comps and earnings. Given the solid balance sheet, cash flow, profitability, and management’s solid execution, we believe shares should trade at a premium to its peers."

For more ratings news on PriceSmart click here and for the rating history of PriceSmart click here.

Shares of PriceSmart closed at $52.20 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Jefferies sees a buying opportunity in this S&P 500 sector
• Benchmark Reiterates Buy Rating on Jumia Technologies (JMIA)
• UBS Reiterates Buy Rating on Sysco (SYY) Following Trip to Company Headquarters