Auriga Reiterates a 'Buy' on Collective Brands (PSS); Turnaround Underway
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Price: $21.72 --0%
Rating Summary:
3 Buy, 2 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
3 Buy, 2 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Auriga reiterates a 'Buy' on Collective Brands (NYSE: PSS) price target of $20.00.
Auriga analyst says, "PSS reported upside to sales, gross margin and SG&A during Q4 as its turnaround of the Payless division began to take hold. While we are not expecting the Payless turnaround to be complete in Q1, we do believe that Payless could report a positive comp leading to EPS growth of 37%. PSS provided little color with regard to its strategic review except to note that it is still on-going and no CEO has been named. Our $20 PT assumes a $1.6 billion enterprise value and a 12x multiple on our 2013 EPS estimate."
For an analyst ratings summary and ratings history on Collective Brands click here. For more ratings news on Collective Brands click here.
Shares of Collective Brands closed at $17.38 yesterday.
Auriga analyst says, "PSS reported upside to sales, gross margin and SG&A during Q4 as its turnaround of the Payless division began to take hold. While we are not expecting the Payless turnaround to be complete in Q1, we do believe that Payless could report a positive comp leading to EPS growth of 37%. PSS provided little color with regard to its strategic review except to note that it is still on-going and no CEO has been named. Our $20 PT assumes a $1.6 billion enterprise value and a 12x multiple on our 2013 EPS estimate."
For an analyst ratings summary and ratings history on Collective Brands click here. For more ratings news on Collective Brands click here.
Shares of Collective Brands closed at $17.38 yesterday.
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