Oppenheimer Expects Solid Report from Pier 1 Imports

According to a recent report from Oppenheimer, Pier 1 Imports PIR is expected to report strong sales for Q1 due on Thursday, June 2. Due to the optimism surrounding the upcoming report, Oppenheimer reiterates an Outperform rating on PIR and maintains a $14.00 price target. In the report, Oppenheimer said, "We look optimistically toward this upcoming report as another signal of ongoing fundamental strength at the chain. Data suggest that sales remained solid at PIR through Q1 (May)." Pier 1 Imports closed yesterday at $11.88.