Guggenheim Remains a Buy on National Vision Holdings Inc (EYE)


Guggenheim analyst Robert Drbul maintained a Buy rating on National Vision Holdings Inc (EYE) yesterday and set a price target of $46. The company’s shares closed yesterday at $41.09.

Drbul noted:

“We continue to believe EYE’s combination of attractive pricing/white space opportunity lend it an outsized ability to increase market share/disrupt the U.S. eyewear market. Given our belief EYE should continue to drive continued top-line upside, we maintain our $46 PT and BUY rating. Total adjusted comps increased 6.8% (67th consecutive quarter of positive comps) in 3Q18. The comp was driven by continued momentum in owned brands, and was again driven primarily by traffic. Total revenue increased 11.9% to $387mn inclusive of $3mn relating to the expanded WMT partnership. We remain optimistic on EYE’s L-T growth strategy and now expect ~12% revenue growth in 2018 (including ~75 new stores), aided by an incremental >$10mn from the expanded WMT partnership. We continue to believe EYE is gaining share in the $35bn U.S. optical retail market.”

According to TipRanks.com, Drbul is a top 100 analyst with an average return of 15.1% and a 73.6% success rate. Drbul covers the Services sector, focusing on stocks such as Ascena Retail Group, Wal-Mart Stores Inc, and Burlington Stores.

National Vision Holdings Inc has an analyst consensus of Strong Buy, with a price target consensus of $49.25, a 19.9% upside from current levels. In a report released yesterday, Wells Fargo also maintained a Buy rating on the stock with a $48 price target.

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The company has a one-year high of $46.63 and a one-year low of $29.51. Currently, National Vision Holdings Inc has an average volume of 487.7K.

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National Vision Holdings, Inc. engages in optical retail. It specializes in eye care and eyewear. It operates through Owned and Host, and Legacy segment. The Owned and Host segment includes two brands, America’s Best and Eyeglass World, and Vista Optical locations in Fred Meyer stores.

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