KeyBanc Upgrades Staples, Inc. (SPLS) to Overweight

KeyBanc upgraded Staples, Inc. (NASDAQ: SPLS) from Sector Weight to Overweight with a price target of $20.00.

Analyst Bradley Thomas commented, "We are upgrading SPLS to Overweight from Sector Weight, and initiating a $20 price target. As explained in our 20-page note, we believe FTC will approve the acquisition of ODP, and that shares will benefit from significant synergies that result. Looking out over a 3-4 year integration plan, we see SPLS as a compelling large cap value/special situation stock that could potentially appreciate up to $25-$30 in 3 years."

For an analyst ratings summary and ratings history on Staples, Inc. click here. For more ratings news on Staples, Inc. click here.

Shares of Staples, Inc. closed at $16.29 yesterday.

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