Pier 1 Imports (PIR) Has More Room to Run, Target Raised - Oppenheimer
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Price: $3.56 --0%
Rating Summary:
1 Buy, 15 Hold, 8 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 21 | New: 20
Rating Summary:
1 Buy, 15 Hold, 8 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 21 | New: 20
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Oppenheimer raised its price target on Outperform-rated Pier 1 Imports (NYSE: PIR) from $17 to $20, saying there is more room to run.
"We stress-tested our PIR financial model and reflected upon our investment thesis. Our conclusion: PIR has further room to run."
The firm notes that while sales volumes have improved markedly, they remain well below prior peak levels. Also the upcoming e-commerce launch will be an incremental top-line driver and enhanced marketing vehicle for the company. Return-on-invested capital is climbing as sales and margins move higher, the firm also notes.
For an analyst ratings summary and ratings history on Pier 1 Imports click here. For more ratings news on Pier 1 Imports click here.
Shares of Pier 1 Imports closed at $16.60 yesterday.
"We stress-tested our PIR financial model and reflected upon our investment thesis. Our conclusion: PIR has further room to run."
The firm notes that while sales volumes have improved markedly, they remain well below prior peak levels. Also the upcoming e-commerce launch will be an incremental top-line driver and enhanced marketing vehicle for the company. Return-on-invested capital is climbing as sales and margins move higher, the firm also notes.
For an analyst ratings summary and ratings history on Pier 1 Imports click here. For more ratings news on Pier 1 Imports click here.
Shares of Pier 1 Imports closed at $16.60 yesterday.
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