FREE Breaking News Alerts from StreetInsider.com!
E-mail Address
Top NewsMost Read Highlighted
Get AlertsHRB Hot Sheet
Rating Summary:
3 Buy, 3 Hold, 0 Sell
Rating Trend: Up
Today’s Overall Ratings:
Compass Point downgraded H&R Block (NYSE: HRB) from Buy to Neutral with a price target of $19.50 (from $18.50), citing a more balanced risk/reward.
The firm comments, “We are downgrading our rating from Buy to Neutral as we believe the risk/reward on the stock is more balanced at the current level. Fundamentally, we believe the business has stabilized and see several potential tailwinds that should bolster earnings over the next several years. We continue to see value in the company, and are increasing our price target $1 to $19.50 as a result. That said, while we believe there is upside in the stock, the odds of a choppy tax season, the unknown resolution of the bank, and the potential for put-back headlines to re-emerge keep us from continuing to recommend shares at this level. We would be more constructive on shares at a lower level and believe this is broadly consistent with management’s actions as buyback activity has been focused on the sub $15 level over the past several years.”
For an analyst ratings summary and ratings history on H&R Block click here. For more ratings news on H&R Block click here.
Shares of H&R Block closed at $19.19 yesterday, with a 52 week range of $14.35-$19.32.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items – JOIN NOW