Markets & Finance

Raymond James Reaffrims Bombay Co.


Raymond James reaffrims Bombay Company (BBA) at strong buy and $9 target.

Analyst Budd Bugatch notes his -2% same-store sales estimate, but observes sales trends improved through the month. He says inventories at the end of December were roughly in line with expectations, and in a much better position than a year ago.

He says the gap between expectations and delivery has narrowed. The company struggled through a year of horrendous sales, created by extraordinarily high comparable sales in 2003.

Bugatch notes the stock remains only slightly above its $4.88 book value. He expects sales to turn positive in the first-quarter of fiscal 2006, vs. -9% a year-ago. Optimistic earnings per share estimates will begin moving higher at that point.


We Almost Lost the Nasdaq
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

Sponsored Financial Commentaries

Sponsored Links

Buy a link now!

 
blog comments powered by Disqus