Topeka Capital Reiterates Buy On HSN Inc. Following Strong Quarterly Results
In a research report released August 7th, Topeka Capital analyst Victor Anthony reiterated a Buy rating on HSN Inc. (HSNI) with a $67 price target, following the company’s release of its second-quarter results.
Anthony wrote, “The 2Q14 earnings report that delivered a great quarter for TV Shopping, in which both revenues and Adj. EBITDA easily exceeded our estimates, on broad-based strength at the categories.” The analyst added, “The strength in the quarter is likely to persist. Weakness at Cornerstone will too persist but we were encouraged by comments from the company that Garnett Hill will likely see improvement over the course of the year. We continue to expect that management and the board to make use of their under-levered balance sheet to drive equity returns.”
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 18.5% and a 66.3% success rate. Anthony has an -0.3% average return when recommending HSNI, and is ranked #53 out of 3214 analysts.
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