Barclays on U.S. Retail Hardlines: Taking a More Cautious Stance
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Rating Summary:
1 Buy, 8 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 22 | New: 8
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Barclays on U.S. Retail Hardlines: Taking a More Cautious Stance
Barclays analyst, Alan M. Rifkin, says, "We are downgrading our view on the U.S. Retail Hardlines sector to Negative from Neutral. Our more cautious stance is driven by the incremental weakness we have observed in recent macroeconomic data points. Despite our relatively cautious stance since our sector initiation on June 6, 2011, we believe it is prudent to become more cautious and recommend investors focus on less cyclical, more defensive names."
"Along with our sector downgrade to Negative, we are downgrading hhgregg (NYSE: HGG), PetSmart (Nasdaq: PETM) Pier 1 (NYSE: PIR), and Williams Sonoma (NYSE: WSM). We are downgrading hhgregg to UW from EW. Within home furnishings, we are downgrading both Pier 1 Imports and Williams-Sonoma to EW from OW. We are also downgrading PetSmart to EW from OW and removing PETM from our Top Picks list. Note that we currently have Overweight ratings on only 5 of our 17 companies and we do not have a Overweight rating on a single company in the office products or consumer electronics sectors. Auto parts remains our favorite sector overall and our Overweight Top Picks AutoZone (NYSE: AZO), Bed Bath & Beyond (Nasdaq: BBBY), O'Reilly (Nasdaq: ORLY), and Tractor Co (Nasdaq: TSCO)."
Barclays analyst, Alan M. Rifkin, says, "We are downgrading our view on the U.S. Retail Hardlines sector to Negative from Neutral. Our more cautious stance is driven by the incremental weakness we have observed in recent macroeconomic data points. Despite our relatively cautious stance since our sector initiation on June 6, 2011, we believe it is prudent to become more cautious and recommend investors focus on less cyclical, more defensive names."
"Along with our sector downgrade to Negative, we are downgrading hhgregg (NYSE: HGG), PetSmart (Nasdaq: PETM) Pier 1 (NYSE: PIR), and Williams Sonoma (NYSE: WSM). We are downgrading hhgregg to UW from EW. Within home furnishings, we are downgrading both Pier 1 Imports and Williams-Sonoma to EW from OW. We are also downgrading PetSmart to EW from OW and removing PETM from our Top Picks list. Note that we currently have Overweight ratings on only 5 of our 17 companies and we do not have a Overweight rating on a single company in the office products or consumer electronics sectors. Auto parts remains our favorite sector overall and our Overweight Top Picks AutoZone (NYSE: AZO), Bed Bath & Beyond (Nasdaq: BBBY), O'Reilly (Nasdaq: ORLY), and Tractor Co (Nasdaq: TSCO)."
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