Goldman Sachs Downgrades Staples to Neutral, Lowers PT To $25 (SPLS)

Goldman Sachs downgraded Staples SPLS to Neutral and trimmed its Staples price target to $25 in a research report published today. In the report, Goldman Sachs states "SPLS is currently valued in line with other sector-leading hardlines retailers with solid financial returns and modest square footage growth prospects. That said, the stock no longer embeds the skepticism about the viability of guidance we detected when we upgraded it last summer." Shares of Staples were at $22.23 in pre-market trading at the time of posting, down 1.51% from Friday's market close.