Citi is out with its report today on Staples SPLS, lowering its PT from $27 to $20.
In a note to clients, Citi writes, "We lowered our PT to $20 from $27 based on 12x our new FY13 estimate of $1.65. Our FY12 estimates went to $1.40 from $1.60. On a forward NTM basis, SPLS has traded at an average of 18.8x, ranging from a high of 26.3x to a low of 10.6x."
Citi maintains Hold on SPLS.
At the time of posting, shares of SPLS were trading pre-market at $16.65, up 0.12% from Wednesday's close.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Posted In: Analyst ColorPrice TargetAnalyst RatingsCitiConsumer DiscretionarySpecialty StoresStaples
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in