National Vision Holdings (EYE) PT Raised to $70 at Jefferies
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Retail Stocks: Three Rating Changes Morgan Stanley Made Today
October 14, 2021 9:23 AM EDTMorgan Stanley analyst Simeon Gutman downgraded two retail stocks today as the banks analysts point towards soft landing given a mean reversion to personal consumption (PCE) trends.
For Gutman, the key debate that investors should focus on in this coverage is whether companies can continue to grow sales in 2022 and 2023.
Many companies have seen unprecedented revenue growth since '19, and estimates assume sharp declines in 22, followed by growth in 23. As a share of PCE, services look poised to recoup losses to durable goods spending during COVID. Our work indicates that despite a pullback in durables, strong labor... More
UPDATE: Morgan Stanley Upgrades National Vision Holdings (EYE) to Overweight
October 14, 2021 4:48 AM EDT(Updated - October 14, 2021 7:26 AM EDT)
Morgan Stanley analyst Simeon Gutman upgraded National Vision Holdings (NASDAQ: EYE) from Equalweight to Overweight with a price target of $70.00 (from $57.00).
The analyst commented, "Our upgrade is based on the Optical category bucking the... More
