Morgan Keegan Has Outperform On Hibbett Sports (HIBB)

Morgan Keegan has an Outperform rating and is raising its price target to $41 from $34 on Hibbett Sports, Inc. HIBB after the company reported earnings last week. In a note sent to clients, Morgan Keegan writes, "We reiterate our Outperform rating given the impressive results posted by the company and our expectation for strong sales trends to continue. Additionally, we believe HIBB can accelerate unit growth in the near term by occupying vacated movie rental locations. Shares currently trade at 7.9x our EV/EBITDA estimate. We reiterate our Outperform rating given the impressive results posted by the company and our expectation for strong sales trends to continue. Additionally, we believe HIBB can accelerate unit growth in the near term by occupying vacated movie rental locations. Shares currently trade at 7.9x our EV/EBITDA estimate." Shares of HIBB gained $4.58 on Friday to close at $32.74.