Deutsche Bank Maintains Hold Rating and $6 PT On Office Depot (ODP)

Deutsche Bank issued an update reevaluating Office Depot's ODP Price Target and Rating.

The report stated “We maintain our price target of $6 based on 5x EV/EBITDA on our FY12 estimates, in line with the multiple that we use for Office Max. Our Hold rating balances some signs of stabilization in the near term with longer term concerns. The biggest downside risk is market share loses and reduced consumption of office products. The biggest upside risks is improvements in employment.”

Office Depot closed at $5.34 on Friday. Office Depot has a Hold Rating and a $6.00 PT.