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HSNI

HSN, Inc.

$40.13

0.35 (0.88%)

, QVCA

Liberty Interactive

$20.05

-0.11 (-0.55%)

05:50
10/06/16
10/06
05:50
10/06/16
05:50

HSN, Inc. downgraded to Neutral from Buy at Citi

Citi analyst Jason Bazinet downgraded HSN, Inc. (HSNI) to Neutral saying the company's business has been "slowly deteriorating." Unlikely Liberty Interactive (QVCA), HSN has not been using credit "to paper over" the underlying top-line deterioration, Bazinet tells investors in a research note. He now believes HSN shares may only reach $43 in 2018, suggesting less than 10% upside. The analyst lowered his price target for the shares to $43 from $53. Bazinet keeps a Buy rating on Liberty Interactive but lowered his price target for the shares to $26 from $33.

HSNI

HSN, Inc.

$40.13

0.35 (0.88%)

QVCA

Liberty Interactive

$20.05

-0.11 (-0.55%)

HSNI HSN, Inc.
$40.13

0.35 (0.88%)

09/20/16
09/20/16
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Ford (F) initiated with a Buy at Nomura. 2. Intel (INTC) was initiated with a Positive at Susquehanna while the firm initiated AMD (AMD) with a Neutral. 3. HSN, Inc. (HSNI) initiated with an Underperform at BofA/Merrill. 4. Bojangles (BOJA) initiated with a Strong Buy at CL King. 5. D.R. Horton (DHI) initiated with an Outperform at Wedbush. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
09/20/16
BOFA
09/20/16
INITIATION
Target $33
BOFA
Underperform
HSN, Inc. initiated with an Underperform at BofA/Merrill
BofA/Merrill analyst Heather Balsky initiated HSN, Inc with an Underperform and a $33 price target. The analyst believes the company's Cornerstone home business will continue to be challenged given the aggressive promotional environment and expects uncertainty about the business to pressure the multiple.
05/04/16
CHLM
05/04/16
NO CHANGE
Target $62
CHLM
Buy
HSN, Inc. price target lowered to $62 following mixed Q1 report at Craig-Hallum
Craig-Hallum analyst Alex Fuhrman lowered HSN, Inc's price target to $62 from $68 following the mixed Q1 report driven by lower than expected revenue. The analyst believes HSN will continue to face a difficult environment in Q2 before results begin to improve in 2H 2016 and maintains his Buy rating.
02/25/16
BMUR
02/25/16
NO CHANGE
Target $72
BMUR
Buy
HSN, Inc. weakness a buying opportunity, says Brean Capital
Brean Capital said they would use the recent pullback in HSN, Inc. as a buying opportunity as they believe the company is managing the current environment reasonably well. The firm sees additional value from here and recommends investors buy the shares in anticipation of clear sailing starting in Q2. Brean Capital reiterated its Buy rating and $72 price target on HSN, Inc. shares.
QVCA Liberty Interactive
$20.05

-0.11 (-0.55%)

09/20/16
BOFA
09/20/16
INITIATION
Target $20
BOFA
Neutral
Liberty Interactive initiated with a Neutral at BofA/Merrill
Target $20.
08/10/16
FBNS
08/10/16
UPGRADE
FBNS
Outperform
Liberty Interactive upgraded to Outperform from Sector Perform at FBN Securities
08/08/16
UBSW
08/08/16
NO CHANGE
Target $30
UBSW
Buy
QVC long-term business model remains intact, says UBS
UBS said a preponderance of evidence points to a business model that remains intact for Liberty Interactive's QVC. The key components include a very loyal base of users/shoppers, continued progress on e-commerce/mobile exposure, and a disciplined management team that is focused on shareholder returns. UBS lowered its price target to $30 from $33 on Liberty Interactive shares but reiterated its Buy rating on the stock.
08/08/16
SBSH
08/08/16
NO CHANGE
Target $33
SBSH
Buy
Citi sees favorable 4:1 risk/reward for QVC shares
Citi analyst Jason Bazinet believes the Street is ascribing an 80% likelihood that Liberty Interactive's QVC is in secular decline following last week's selloff. He admits that he's never seen a business decelerate as quickly as QVC management suggested its business is. With that said, the analyst believes QVC offers investors a favorable 4:1 risk-reward at current levels. Bazinet's bear case suggests the equity is worth $16 a share by 2018 while his bull case suggests the equity is worth $36 a share. He keeps a Buy rating on Liberty Interactive with a $33 price target.

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