Markets & Finance

Legg Mason Downgrades Blue Nile to Hold from Buy


Legg Mason downgraded Blue Nile (NILE) to hold from buy, explaining that the shares have grown 39% more expensive since early October.

Analyst Scott Devitt believes the jewelry retailer's intrinsic business value is in the low-$40s per share. He expects the company to report a solid fourth quarter and sees $81 million revenue and 33 cents cash earnings per share. He also expects the 2005 holiday period to be generally positive vs. expectations for the entire Internet Consumer Services sector. However, he has somewhat subdued sector views in 2006 as he believes price has begun to exceed value sectorwide.


The Good Business Issue
LIMITED-TIME OFFER SUBSCRIBE NOW

Sponsored Financial Commentaries

Sponsored Links

Buy a link now!

 
blog comments powered by Disqus