Oscar Gruss Upgrades ACCO Brands (ABD) to Buy: Recent Dip Offers Opportunity
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Price: $10.55 -3.83%
Rating Summary:
2 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
2 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Oscar Gruss upgraded ACCO Brands (NYSE: ABD) from Neutral to Buy with a price target of $13.00.
Analyst, Louis Meyer, said, "ABD’s stock price has rolled back ~20% from the yearly high reached in 1Q12. We believe the potential overhang from shares distributed to MeadWestvaco (NYSE: MWV) holders is one of the reasons for the current ABD share weakness. The price retrenchment has resulted in a more attractive entry point for investors in the combined entity. We note that the P/F ABD leveraged capital structure may result in higher price volatility, but the much increased heft of the combined entity should mitigate some of the price swings that have occurred with standalone ABD."
For an analyst ratings summary and ratings history on ACCO Brands click here. For more ratings news on ACCO Brands click here.
Shares of ACCO Brands closed at $10.97 yesterday.
Analyst, Louis Meyer, said, "ABD’s stock price has rolled back ~20% from the yearly high reached in 1Q12. We believe the potential overhang from shares distributed to MeadWestvaco (NYSE: MWV) holders is one of the reasons for the current ABD share weakness. The price retrenchment has resulted in a more attractive entry point for investors in the combined entity. We note that the P/F ABD leveraged capital structure may result in higher price volatility, but the much increased heft of the combined entity should mitigate some of the price swings that have occurred with standalone ABD."
For an analyst ratings summary and ratings history on ACCO Brands click here. For more ratings news on ACCO Brands click here.
Shares of ACCO Brands closed at $10.97 yesterday.
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