Jefferies Raises Price Target on Susser Holdings (SUSS), Gassed Up and Going Hard
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Price: $82.46 --0%
Rating Summary:
2 Buy, 8 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
2 Buy, 8 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Jefferies is reiterating its Buy rating on shares of Susser Holdings Corporation (NASDAQ: SUSS) and is raising its price target from $18 to $20.
The firm believes that SUSS will increase its new store build rate in 2012 following the additions to its land bank. Management noted that they are experiencing improving trends in the Texas region as hey continue to focus on larger store fronts.
For the second quarter Susser Holdings reported an adjusted EBITDA of $61 million, trumping the firms estimate of $36 million and the Street's of $38 million. Jefferies announced that the upside was largely due to fuel profits coming in much higher than anticipated.
Jefferies is raising its FY11 EPS estimate from $0.91 to $1.90 and its FY12 estimate from $0.94 to $0.96.
An analyst at the firm comments, "Susser reported a record 2Q11 as solid retail merchandise results were magnified by record fuel profits. Susser continues to manage its business very well, focusing on sales, while controlling costs. Texas, Susser’s main operating region, is also providing a nice tailwind as economic growth remains solid and is helping provide confidence for the management team to accelerate growth."
For more ratings news on Susser Holdings Corporation click here and for the rating history of Susser Holdings Corporation click here.
Shares of Susser Holdings Corporation closed at $17.06 yesterday.
The firm believes that SUSS will increase its new store build rate in 2012 following the additions to its land bank. Management noted that they are experiencing improving trends in the Texas region as hey continue to focus on larger store fronts.
For the second quarter Susser Holdings reported an adjusted EBITDA of $61 million, trumping the firms estimate of $36 million and the Street's of $38 million. Jefferies announced that the upside was largely due to fuel profits coming in much higher than anticipated.
Jefferies is raising its FY11 EPS estimate from $0.91 to $1.90 and its FY12 estimate from $0.94 to $0.96.
An analyst at the firm comments, "Susser reported a record 2Q11 as solid retail merchandise results were magnified by record fuel profits. Susser continues to manage its business very well, focusing on sales, while controlling costs. Texas, Susser’s main operating region, is also providing a nice tailwind as economic growth remains solid and is helping provide confidence for the management team to accelerate growth."
For more ratings news on Susser Holdings Corporation click here and for the rating history of Susser Holdings Corporation click here.
Shares of Susser Holdings Corporation closed at $17.06 yesterday.
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