Credit Suisse Upgrades Office Depot (ODP) to Outperform
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May 7, 2014 8:37 AM EDT
Jefferies analyst Daniel Binder bumped his price target on Office Depot (NYSE: ODP) to $5.25 (from $5.00) while reiterating a Hold rating following Q1 results which beat low expectations despite plenty of 1x items.
Binder comments, "Management set a low bar at the... More
May 6, 2014 9:20 AM EDT
Goldman Sachs maintained a Neutral rating on Office Depot (NYSE: ODP) with a price target of $4.75. Comments follow strong Q1 results. Analyst Matthew J. Fassler also commented briefly on implications for Staples, Inc. (NASDAQ: SPLS).
"ODP reported 1Q2014 results... More
May 6, 2014 6:58 AM EDT
Office Depot, Inc. (NYSE: ODP) reported Q1 EPS of $0.07, $0.04 better than the analyst estimate of $0.03. Revenue for the quarter came in at $4.35 billion versus the consensus estimate of $4.28 billion.
Roland Smith, chairman and chief executive officer of Office Depot, Inc., noted, We are pleased with our first quarter performance. After a weather-challenged start to the year, sales trends improved as the quarter progressed, and we exceeded our expectations for both cost reduction and operational execution. With our new organizational structure established and leadership team largely in place, the execution on our critical... More
