Jefferies Slashes PT and Estimates on SUPERVALU (SVU) After Strategic Review Announcment
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Price: $32.49 --0%
Rating Summary:
1 Buy, 15 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
1 Buy, 15 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Jefferies maintains a 'Hold' on SUPERVALU (NYSE: SVU) price target of $2.50 (from $6.50).
Analyst, Scott A. Mushkin, said, "We are updating our estimates for FY13 and FY14 to reflect Supervalu’s previously announced strategic review, including plans to restructure its bank facilities and invest in prices. While we believe the company’s assets could potentially be sold at a high enough price that equity holders would receive some value, there are clearly many unknowns, such as tax and pension obligations."
FY13 EPS Estimate slashed from $1.26 to $0.46 and FY14 from $1.34 to $0.45.
For an analyst ratings summary and ratings history on SUPERVALU click here. For more ratings news on SUPERVALU click here.
Shares of SUPERVALU closed at $2.12 yesterday.
Analyst, Scott A. Mushkin, said, "We are updating our estimates for FY13 and FY14 to reflect Supervalu’s previously announced strategic review, including plans to restructure its bank facilities and invest in prices. While we believe the company’s assets could potentially be sold at a high enough price that equity holders would receive some value, there are clearly many unknowns, such as tax and pension obligations."
FY13 EPS Estimate slashed from $1.26 to $0.46 and FY14 from $1.34 to $0.45.
For an analyst ratings summary and ratings history on SUPERVALU click here. For more ratings news on SUPERVALU click here.
Shares of SUPERVALU closed at $2.12 yesterday.
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