Needham & Company Starts Kid Brands (KID) at Strong Buy; At $8 A Year From Now
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Price: $0.36 --0%
Rating Summary:
2 Buy, 2 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 14 | New: 10
Rating Summary:
2 Buy, 2 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 14 | New: 10
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Needham & Company initiates coverage on Kid Brands (NYSE: KID) with a Strong Buy. PT $8.00.
Analyst, Sean McGowan, said, "On February 22nd, we suspended our Buy rating on KID. Today, we are rating the stock Strong Buy, with a 12-month price target of $8. We believe that while 2011 was a weak year by any measure, most of the problems seem to be in the past, and we expect the next several years to show significant growth in profits. KID actually improved its balance sheet last year, despite significant operational problems, leaving it, we believe, in good shape for the future. (It has no mandatory debt payments for four years.)."
McGowan adjusts FY12/13 EPS estimate from $0.55/0.70 to $0.35/0.60. Revs for FY12/13 were lowered to $255/280.4mln.
For an analyst ratings summary and ratings history on Kid Brands click here. For more ratings news on Kid Brands click here.
Shares of Kid Brands closed at $2.51 yesterday.
Analyst, Sean McGowan, said, "On February 22nd, we suspended our Buy rating on KID. Today, we are rating the stock Strong Buy, with a 12-month price target of $8. We believe that while 2011 was a weak year by any measure, most of the problems seem to be in the past, and we expect the next several years to show significant growth in profits. KID actually improved its balance sheet last year, despite significant operational problems, leaving it, we believe, in good shape for the future. (It has no mandatory debt payments for four years.)."
McGowan adjusts FY12/13 EPS estimate from $0.55/0.70 to $0.35/0.60. Revs for FY12/13 were lowered to $255/280.4mln.
For an analyst ratings summary and ratings history on Kid Brands click here. For more ratings news on Kid Brands click here.
Shares of Kid Brands closed at $2.51 yesterday.
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