Needham & Company Reiterates "Strong Buy" Rating on Kid Brands (KID)
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Price: $0.36 --0%
Rating Summary:
2 Buy, 2 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
2 Buy, 2 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company reiterated its Strong Buy rating and $8 price target on Kid Brands (NYSE: KID) following recent management changes and ahead of upcoming catalysts.
Analyst Sean McGowan comments: "KID recently announced the appointment of a COO (new post) and the return of a former executive to run its soft-goods brands. We view those moves favorably. In this note, we also examine some key milestones related to the company’s debt and upcoming decisions related to the duties payment issues. We conclude that there is a wide range of possible outcomes, some of which could be quite negative, others quite positive, and that our best guess is that the "news flow" over the course of the next month, six months and 12 months is likely to be mostly quite positive. We maintain our $8 target, but note that this target assumes no material change in the company’s debt or equity structure, when, in fact, significant changes may occur, as discussed herein. Under most "likely" scenarios, we believe that in 12 months, KID’s share price will be significantly higher than its current level."
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 $1.34 yesterday.
Analyst Sean McGowan comments: "KID recently announced the appointment of a COO (new post) and the return of a former executive to run its soft-goods brands. We view those moves favorably. In this note, we also examine some key milestones related to the company’s debt and upcoming decisions related to the duties payment issues. We conclude that there is a wide range of possible outcomes, some of which could be quite negative, others quite positive, and that our best guess is that the "news flow" over the course of the next month, six months and 12 months is likely to be mostly quite positive. We maintain our $8 target, but note that this target assumes no material change in the company’s debt or equity structure, when, in fact, significant changes may occur, as discussed herein. Under most "likely" scenarios, we believe that in 12 months, KID’s share price will be significantly higher than its current level."
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 $1.34 yesterday.
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