The Container Store Analyst Quiet Period Ends: Some Stay Hot, Some Not

Print Email

The so-called quiet period for the hot initial public offering (IPO) of The Container Store Group Inc. (NYSE: TCS) has come to an end. The underwriters who were in the syndicate have a very mixed outlook on this company. That should largely have been anticipated, considering that the IPO priced at $18 and shares are around $38 now.

Credit Suisse started the stock as Outperform with a $45 price target. Credit Suisse said:

Over our close to 30 years covering retailers, there have been a small group of retailers that emerged above the fray, companies that put the customer on a pedestal and appreciated that they exist because of the customer and not vice versa. We place The Container Store in that group. Given its small size, just 63 stores and the potential for over 300 U.S. locations, we believe that positions The Container Store as one of the best growth names in our coverage.

J.P. Morgan started it with an Overweight rating with a $44 price target.

Other calls from analysts were as follows, though price targets were omitted as the calls are cautious or neutral in nature:

  • Barclays started it with an Equal Weight rating.
  • Guggenheim started coverage as Neutral.
  • Jefferies started it as Hold.
  • Wells Fargo started it as Outperform.

Also note that Stifel Nicolaus initiated coverage earlier in November with a Buy rating and a $43 price target.

After the $18 IPO pricing, Container Store shares closed at $38.20 on Monday. Its shares have traded in a range of $32.10 to $39.00 since the IPO.