Office supply retailer Staples, Inc. (
) on Wednesday caught some lukewarm commentary from analysts at
The firm lowered its earnings estimates for SPLS through 2014,
noting that any real potential benefits related to the company's
strategic plan are still unclear. Yesterday, Staples announced a
cost-cutting plan that includes shuttering some 30 stores in the
U.S. and 45 locations in Europe.
Additionally, UBS reiterated its "Neutral" rating and $12 price
target on SPLS, suggesting zero upside to the stock's Tuesday
closing pric eof $11.80.
Staples shares were mostly flat in premarket trading
The Bottom Line
Shares of Staples (
) have a 3.73% dividend yield, based on last night's closing stock
price of $11.80. The stock has technical support in the $10 price
area. If the shares can firm up, we see overhead resistance around
the $13-$14 price levels.
Staples, Inc. (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.0 out of 5 stars.
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, as well as a detailed explanation of
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