Wedbush Starts Town Sports (CLUB) at Neutral
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Price: $26.33 -0.6%
Rating Summary:
2 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
2 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Wedbush initiates coverage on Town Sports (NASDAQ: CLUB) with a Neutral. PT $12.00.
The firm comments, "Given CLUB's strong free cash flow, benefits of its clustering strategy, favorable industry trends, and healthy balance sheet, offset by expectations for slow near-term growth, we believe shares of CLUB should trade at an approximate 10% discount to the peer group. Thus, using a 2013E P/E ratio of 15x, we generate our price target of $12."
For an analyst ratings summary and ratings history on Town Sports click here. For more ratings news on Town Sports click here.
Shares of Town Sports closed at $12.23 yesterday.
The firm comments, "Given CLUB's strong free cash flow, benefits of its clustering strategy, favorable industry trends, and healthy balance sheet, offset by expectations for slow near-term growth, we believe shares of CLUB should trade at an approximate 10% discount to the peer group. Thus, using a 2013E P/E ratio of 15x, we generate our price target of $12."
For an analyst ratings summary and ratings history on Town Sports click here. For more ratings news on Town Sports click here.
Shares of Town Sports closed at $12.23 yesterday.
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