Credit Suisse Starts Party City (PRTY) at Outperform

Credit Suisse initiates coverage on Party City (NYSE: PRTY) with a Outperform rating and a price target of $26.00 as the quiet period ends.

Analyst S. Sigman commented, "Party City is a unique investment story within retail, offering investors many ways to win through a diverse set of growth drivers across its vertically integrated model. We see an outlook that includes high-single digit top line growth and mid-teens or better EPS growth, which stacks up well within our group. While much progress has been made under this strong management team, we see multiple areas of further improvement, supporting another 20% of stock price appreciation over twelve months through EPS and valuation upside."

For an analyst ratings summary and ratings history on Party City click here. For more ratings news on Party City click here.

Shares of Party City closed at $21.80 yesterday.

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