Piper Jaffray is out with its report today on GameStop GME, reiterating Underweight.
In a note to clients, Piper Jaffray writes, "GameStop will report January quarter financial results on Thursday morning 3/24/11. We expect GameStop will report sales and EPS in-line with its January quarter holiday update. Management guidance calls for comps to range 2% to 4% and EPS between $1.53 & $1.59 for the quarter. We believe guidance was slightly conservative and EPS can hit the top end of guidance or slightly better ($1.61 PJC est). We think risk exists to 2011 consensus estimates ($2.92 EPS) and believe net income will decline modestly during 2011. GameStop continues to execute well in a tough category - but long-term strategy is lacking. Reiterate Underweight rating and $17PT."
Shares of GME closed Monday at $21.19, up 1.10% from Friday'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...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Posted In: Analyst ColorPrice TargetAnalyst RatingsComputer & Electronics RetailConsumer DiscretionarygamestopPiper Jaffray
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