David’s Tea Upgraded at BMO On Store Improvements, Online Sales
(Bloomberg) -- David’s Tea upgraded to outperform from market perform by BMO Capital Markets analyst Kelly Bania, citing “increased confidence” in forecasts after meetings with DTEA management.
- Also cites opportunities from store improvements, strength in online sales, favorable COGS outlook and potential for DTEA to use cash for a dividend
- BMO sees DTEA well positioned for L-T EPS growth of 25%
- Raises PT to $16 from $13
- NOTE: DTEA 2 buys, 3 holds, 0 sells w/ avg PT $15
- NOTE: June 8, DavidsTea 2Q Loss/Share View In-Line With Est, Sales View Misses
Alert:
HALISTER1Source: BFW (Bloomberg First Word)
Tickers DTEA US (DavidsTea Inc)
People Kelly Bania (Bank of Montreal)
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