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PIR

Pier 1 Imports

$4.60

-0.03 (-0.65%)

07:38
08/09/17
08/09
07:38
08/09/17
07:38

Pier 1 Imports price target lowered to $8 on CFO uncertainty at Loop Capital

Loop Capital analyst Anthony Chukumba said he is "rarely happy to see a CFO depart," but he also noted that Pier 1 Imports has continued to "stumble" under outgoing CFO Jeff Boyer, while his departure allows new CEO Alasdair James to bring in his own person to take the post. Noting the increased uncertainty that the CFO departure brings, Chukumba lowered his price target to $8 from $10 on Pier 1 shares, but keeps a Buy rating on the stock, citing the stock's "significant discount" to the average valuation of peer home furnishings and home goods retailers.

PIR Pier 1 Imports
$4.60

-0.03 (-0.65%)

06/29/17
06/29/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Monro Muffler (MNRO) downgraded to Equal Weight from Overweight at Stephens. 2. Pier 1 Imports (PIR) downgraded to Hold from Accumulate at Johnson Rice. 3. Emcore (EMKR) downgraded to Neutral from Buy at B. Riley with analyst Dave Kang citing valuation and the cyclical nature of the CATV business. 4. INC Research (INCR) downgraded to Hold from Buy at Jefferies with analyst David Windley saying near term integration risk from the inVentiv merger is not fully incorporated into the shares. 5. Precision Drilling (PDS) downgraded to Neutral from Overweight at Piper Jaffray with analyst John Daniel saying land drilling stocks screen fairly valued. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
06/29/17
JRCO
06/29/17
DOWNGRADE
JRCO
Hold
Pier 1 Imports downgraded to Hold from Accumulate at Johnson Rice
06/29/17
LOOP
06/29/17
NO CHANGE
Target $10
LOOP
Buy
Pier 1 Imports 'disappointing' report mainly due to furniture, says Loop Capital
Loop Capital analyst Anthony Chukumba said he is "comforted" by the fact that Pier 1 Imports' disappointing Q1 results and Q2 guidance were largely driven by underperformance in one product category, outdoor furniture. Chukumba, who notes Pier 1 is much less dependent on furniture sales in the second half of the year than in the first, also said he was encouraged by the newly appointed CEO's strategic plan. He lowered his price target on Pier 1 to $10 from $12, but keeps a Buy rating on the shares, which are down 10% to $4.84 in pre-market trading.
06/29/17
JEFF
06/29/17
NO CHANGE
Target $5.9
JEFF
Hold
Pier 1 Imports shares likely to be range bound, says Jefferies
Jefferies analyst Daniel Binder expects shares of Pier 1 Imports to be range bound over the next few months after the CEO placed the entire business under review. Management has been sparse on details and a strategic plan announcement is not expected until November, Binder tells investors in a research note. The analyst lowered his price target for the shares to $5.90 from $7.25 and keeps a Hold rating on Pier 1.

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