Needham & Company Reiterates a 'Strong Buy' on Kid Brands (KID); Good News In Disguise?: Delays 2Q, But New Credit Facility Is Significantly Better
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Price: $0.36 --0%
Rating Summary:
2 Buy, 2 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
2 Buy, 2 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company reiterates a 'Strong Buy' on Kid Brands (NYSE: KID) price target of $13.00.
Needham analyst says, "KID filed notice on August 10th that its 2Q 10-Q would be late. When KID does file the 10-Q (next Monday evening) and hosts its 2Q conference call (next Tuesday, August 16th) we believe investors will see that the delay was not due to material negative developments, and was caused in part by the work done to secure a new credit facility which we believe is significantly better for KID than its previous facility. Moreover, according to the same filing, operating results for 2Q were in line with previous guidance, with sales down 11% and operating results (excluding one-items) comparable to the slightly profitable 1Q. For reasons discussed herein, we believe the stock will rally over the course of the next week when the results and surrounding issues are fully discussed."
For more ratings news on Kid Brands click here and for the rating history of Kid Brands click here.
Shares of Kid Brands closed at $4.16 yesterday.
Needham analyst says, "KID filed notice on August 10th that its 2Q 10-Q would be late. When KID does file the 10-Q (next Monday evening) and hosts its 2Q conference call (next Tuesday, August 16th) we believe investors will see that the delay was not due to material negative developments, and was caused in part by the work done to secure a new credit facility which we believe is significantly better for KID than its previous facility. Moreover, according to the same filing, operating results for 2Q were in line with previous guidance, with sales down 11% and operating results (excluding one-items) comparable to the slightly profitable 1Q. For reasons discussed herein, we believe the stock will rally over the course of the next week when the results and surrounding issues are fully discussed."
For more ratings news on Kid Brands click here and for the rating history of Kid Brands click here.
Shares of Kid Brands closed at $4.16 yesterday.
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