Wedbush Starts Cost Plus (CPWM) at Outperform, $12 Price Target

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December 22, 2011 1:02 PM EST
Get Alerts CPWM Hot Sheet
Price: $22.00 --0%

Rating Summary:
    0 Buy, 4 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 8 | Down: 5 | New: 26
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Analysts at Wedbush initiated coverage on shares of Cost Plus (NASDAQ: CPWM) in an intraday research note Thursday. The firm rates the stock an Outperform with a $12 price target.

Wedbush's estimated 10-15 percent longer-term earnings growth rate "is based on our expectations for low-single digit store growth, mid-to-high-single digt comps, and operating margin expansion, including gross margin upside from merchandise margin expansion and SG&A leverage on low-single digit comps. The firm believes initiatives undertaken by CEO Barry Field staged "a commendable turnaround" in the company's business.

For an analyst ratings summary and ratings history on Cost Plus click here. For more ratings news on Cost Plus click here.

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