Office supply giant Staples, Inc. (
) saw its earnings estimates cut on Monday by analysts at UBS,
which cited the company's European currency exposure.
UBS currently rates the stock as "Neutral" with a $26.25 price
Staples shares, which had closed at $21.66 on Friday, rose 43
cents, or +2%, in premarket trading Monday.
The Bottom Line
We have avoided shares of Staples since our early June 2008
coverage began, when the stock was trading at $23.23. The company
has a dividend yield of 1.66%, based on Friday's closing stock
price of $21.06. The stock has technical support in the $19 price
area. If the stock can continue to firm up, we see overhead
resistance around the all-time high levels of $24-$25 a share. We
would remain on the sidelines for now.
Staples, Inc. (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.4 out of 5 stars.
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, as well as a detailed explanation of
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