Topeka Reiterates Buy On HSN In Anticipation Of Meaningful Capital Return Initiatives
In a report issued today, Topeka Capital Markets analyst Victor Anthony reiterated a Buy rating on HSN, Inc. (NASDAQ:HSNI) in anticipation of what was believed a meaningful capital return initiative. A price target of $67 was given.
Anthony noted: “HSN’s largest shareholder, Liberty, has stated publicly their belief that HSN’s balance sheet is inefficient from a leverage standpoint. We believe HSN’s management generally agrees with Liberty and could decide to lever the balance sheet and act on a capital return as part of the normal board review this month.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Victor Anthony has a total average return of 24.8% and a 85.6% success rate. Anthony has a 4.1% average return when recommending HSNI, and is ranked #15 out of 3290 analysts.