Barclays Maintains an 'Underweight' on OfficeMax (OMX); Weak Comps Suggest Macro Concerns Remain

Barclays maintains an 'Underweight' on OfficeMax (NYSE: OMX) price target of $5.00.

Barclays analyst says, "We are lowering our estimates; we remain cautious on the office products space: We are lowering our 4Q EPS estimate from $0.21 to $0.20 (based on flat comps), our 2012 EPS estimate from $0.80 to $0.75 (based on flat comps) and our 2013 EPS estimate from $0.95 to $0.83 (also based on flat comps). In our view, the negative trends in the office products space are likely to continue as recent results from Office Depot and OfficeMax highlight the persistent softness in consumer demand trends."

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

Shares of OfficeMax closed at $5.49 yesterday.

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