Loading...
Loading...
In a report published Tuesday, Bank of America analyst Rafe Jadrosich downgraded the rating on
Hibbett SportsHIBB from Buy to Neutral, and lowered the price target from $55.00 to $47.00.
In the report, Bank of America noted, “We are downgrading Hibbett Sports to Neutral (from Buy) and lowering our price objective to $47 (from $55) given a more conservative industry same-store sales outlook coupled with HIBB's expected step-up in expenses next year, which should pressure EPS growth. Our PO is supported by 16-17x our new F2016E EPS of $2.90 (was $3.00), a slight discount to its historical range of 17-18x.”
Hibbett Sports closed on Monday at $43.66.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
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