Barclays on U.S. Retail Hardlines: Raising Price Targets on Our Overweights
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Price: $3,025.00 -0.51%
Rating Summary:
30 Buy, 10 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
30 Buy, 10 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Barclays on U.S. Retail Hardlines: Raising Price Targets on Our Overweights
Barclays analyst, Alan M. Rifkin, said, "We are raising price targets on all five of our Overweight-rated stocks, which include AZO, BBBY, HD, ORLY and TSCO. Although we remain cautious on the overall U.S. Retail Hardlines sector due to the challenging macroeconomic environment, we continue to recommend AZO, BBBY, HD, ORLY and TSCO. Shares of all five companies have approached our price targets and as a result, we are raising our price targets to reflect improving fundamentals at these five companies. Our above-consensus estimates for all five names remain unchanged. All five of these names have a strong ROIC focus and relatively lower exposure to 4Q profits. We would also highlight that shares of three of our four Top Picks, AZO, BBBY and ORLY, are currently trading at or very close to all-time highs."
AutoZone (NYSE: AZO): price target from $336 to $365.
Bed Bath & Beyond (NYSE: BBBY): price target from $63 to $70.
Home Depot (NYSE: HD): price target from $34 to $38.
O'Reilly (Nasdaq: ORLY): price target from $71 to $80.
Tractor Supply (Nasdaq: TSCO): price target from $69 to $80.
Barclays analyst, Alan M. Rifkin, said, "We are raising price targets on all five of our Overweight-rated stocks, which include AZO, BBBY, HD, ORLY and TSCO. Although we remain cautious on the overall U.S. Retail Hardlines sector due to the challenging macroeconomic environment, we continue to recommend AZO, BBBY, HD, ORLY and TSCO. Shares of all five companies have approached our price targets and as a result, we are raising our price targets to reflect improving fundamentals at these five companies. Our above-consensus estimates for all five names remain unchanged. All five of these names have a strong ROIC focus and relatively lower exposure to 4Q profits. We would also highlight that shares of three of our four Top Picks, AZO, BBBY and ORLY, are currently trading at or very close to all-time highs."
AutoZone (NYSE: AZO): price target from $336 to $365.
Bed Bath & Beyond (NYSE: BBBY): price target from $63 to $70.
Home Depot (NYSE: HD): price target from $34 to $38.
O'Reilly (Nasdaq: ORLY): price target from $71 to $80.
Tractor Supply (Nasdaq: TSCO): price target from $69 to $80.
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