Cost Plus, Inc. (NASDAQ: CPWM) is much less trafficked as a stock compared to its store. From having great internationally made and designed furniture deals to great international selections in food, wine, and beer, Cost Plus has managed to puts its woes from before and during the recession behind it. In many cases, it has the same draw (and risks) as Pier One Imports, Inc. (NYSE: PIR). This retailer has only a small handful of analysts covering the stock, so when an upgrade (or downgrade) comes it can skew the stock’s move.
Today’s big pop matters even with a 6.6% gain. BB&T Capital Markets upgraded the stock to Buy from Hold with a $15.00 price target. The implied gain was for upside of nearly 25% from Friday’s close. The stock is often volatile as it lost half its value from May to the fall’s selling climax of 2011… and its stock has doubled from its lows.
This is either the street high from analysts or matches it in the price targets. You might not be rewarded for chasing the uptick here, but now Cost Plus may be very attractive to purchase on pullbacks.
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