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ODP

Office Depot

$1.51

0.07 (4.86%)

08:23
08/20/19
08/20
08:23
08/20/19
08:23

Office Depot price target lowered to $1.20 from $2 at BofA/Merrill

BofA/Merrill analyst Curtis Nagle lowered his price target for Underperform-rated Office Depot to $1.20 from $2.00. In a research note to investors, Nagle says he remains "particularly wary" of Office Depot's ability to deliver medium-term stabilization in its core North American Retail business. Although thestock has staged a small rally along with other retail stocks following the recent market sell-off, Nagle says he expects investor sentiment to remain relatively bearish over the medium-term.

ODP Office Depot
$1.51

0.07 (4.86%)

04/01/19
SBSH
04/01/19
UPGRADE
Target $18
SBSH
Neutral
Bed Bath & Beyond upgraded to Neutral from Sell at Citi
Citi analyst Geoff Small upgraded Bed Bath & Beyond (BBBY) to Neutral from Sell and raised his price target for the shares to $18 from $10 after taking over coverage of the name. Citi transferred coverage of Broadlines & Hardlines Retail names to Small. The analyst assumed coverage with Buy ratings on AutoZone (AZO), BJ's Wholesale (BJ), Home Depot (HD), Lowe's (LOW), O'Reilly Automotive (ORLY) and Walmart (WMT). The U.S. consumer remains on "solid footing" amid low unemployment, rising wages, declining gas prices, manageable levels of debt, and elevated consumer confidence, Small tells investors in a research note. However, he points out that we are in the ninth year of the current economic expansion and "the possibility of a macroeconomic slowdown cannot be ignored." The analyst prefers retailers operating in "defensive sectors that are less susceptible to disruption by online competitors," namely auto parts, broadlines and home improvement retail. Small also assumed Advance Auto Parts (AAP), Best Buy (BBY), Costco (COST) and Office Depot (ODP) with Neutral ratings.
05/09/19
BOFA
05/09/19
DOWNGRADE
Target $2
BOFA
Underperform
Office Depot downgraded to Underperform from Buy at BofA/Merrill
BofA/Merrill double downgraded Office Depot to Underperform from Buy and cut its price target for the shares to $2 from $4.
05/09/19
BOFA
05/09/19
DOWNGRADE
Target $2
BOFA
Underperform
BofA/Merrill double downgrades Office Depot to Underperform after Q1 report
As previously reported, BofA Merrill Lynch analyst Elizabeth Suzuki double downgraded Office Depot to Underperform from Buy, stating that the company's Q1 report reduced her confidence in a near-term turnaround and she now believes Office Depot's guidance for the rest of the year may be too optimistic. Suzuki, who sees the stock struggling until the company shows consistent improvement in organic growth, cut her price target on Office Depot shares to $2 from $4.
05/09/19
05/09/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Intel (INTC) downgraded to Market Perform from Outperform at BMO Capital with analyst Ambrish Srivastava saying semi stocks do not do well in a decelerating gross margin environment, particularly when the bottom in margin is around two years away. 2. Camping World (CWH) downgraded to Underperform from Neutral at BofA/Merrill with analyst John Lavallo stating the company's outlook for 2019 seems "optimistic" following the company's "challenging" Q1 results. 3. Office Depot (ODP) double downgraded to Underperform from Buy at BofA/Merrill with analyst Elizabeth Suzuki saying the company's Q1 report reduced her confidence in a near-term turnaround and she now believes Office Depot's guidance for the rest of the year may be too optimistic. 4. American Eagle (AEO) downgraded to Neutral from Outperform at Wedbush with analyst Jen Redding saying she believes that shares will continue to trade near 52-week lows for the foreseeable future. 5. Stamps.com (STMP) downgraded to Hold from Buy at Craig-Hallum with analyst George Sutton endorsing the company's long-term move to shift away from USPS exclusivity, but noting that it is a slower, more complicated process than he appreciated. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

NLNK

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TOL

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WTR

Aqua America

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INVH

Invitation Homes

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0.31 (1.10%)

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MODN

Model N

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IQV

Iqvia

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GWW

Grainger

$291.76

-4.29 (-1.45%)

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ACGL

Arch Capital

$40.89

0.33 (0.81%)

16:48
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  • 19

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TOL

Toll Brothers

$40.68

-0.11 (-0.27%)

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KKR

KKR

$28.56

0.31 (1.10%)

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  • 20

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ADBE

Adobe

$284.59

1.54 (0.54%)

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CAL

Caleres

$22.08

-0.71 (-3.12%)

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CHSP

Chesapeake Lodging

$27.20

-0.2 (-0.73%)

, PK

Park Hotels & Resorts

$25.80

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PK

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CAE

CAE

$25.54

0.4 (1.59%)

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UNVR

Univar

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0.29 (1.30%)

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SGMS

Scientific Games

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-0.3 (-1.25%)

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CLPHY

CLP Holdings

$0.00

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CBAY

CymaBay

$5.86

-0.02 (-0.34%)

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AMR

Alta Mesa Resources

$0.12

0.0062 (5.64%)

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MGA

Magna

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FB

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TTWO

Take-Two

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