U.S. retailers have a lot to look forward to as the weather warms up and Americans once again get out of their homes and hit the shops. Several of the country’s largest retailers have reported April quarter results this week and that is ginning up even more enthusiasm.
Among the analysts getting revved up for more gains among retailers is Lavesh Hemnani of Credit Suisse, who has resumed coverage on 17 retail stocks. Of that universe, only five were rated Neutral while 11 were rated Outperform. Only one stock on the list was rated at Underperform.
We’re going to look at three stocks in some detail, but first, here’s Hemnani’s list, along with the stock’s rating and the Credit Suisse 12-month price target.
|Academy Sports & Outdoors||Outperform||$39|
|Advance Auto Parts||Outperform||$215|
|Bed Bath & Beyond||Neutral||$19|
|Dick’s Sporting Goods||Neutral||$72|
|Floor & Décor||Outperform||$122|
|Petco Health and Wellness||Neutral||$28|
Home improvement giant Home Depot Inc. (NYSE: HD) hammered top-line and bottom-line estimates on Tuesday, posting EPS of $3.86m compared with a consensus estimate of $2.93, and revenue of $37.5 billion, compared with an estimate of $33.7 billion. U.S. same-store sales for the quarter were up 29.9% year over year. Shares have dipped by about 3% since the report.