Wunderlich Upgrades HSN to Buy (HSNI)

HSN (NASDAQ:HSNI) was upgraded by research analysts at Wunderlich from a “hold” rating to a “buy” rating in a report released on Friday, AnalystRatingsNetwork.com reports. The firm currently has a $75.00 target price on the stock, up from their previous target price of $63.00. Wunderlich’s target price would suggest a potential upside of 17.67% from the stock’s previous close.

The analysts wrote, “We are increasing our rating on HSN, Inc. (HSNI) to Buy from Hold while raising our 2014 price target to $75 from $63. Although we remain circumspect on the still-stressed mid-market U.S. consumer, we now feel that HSN’s business model has increasingly overwhelming advantages relative to most retailers, namely mobile relevance – especially for tablets, personalization, exclusive content, creative and event content integration, and flexible storefront. The new PT assumes LT earnings growth in line with that for the S&P 500, namely estimated inflation + productivity, or 2.5%. We are not expecting that much financial momentum in Q3 as a prelude to decided Q4 gains, but we believe that a seminal attitudinal change should emerge toward media + retailing HSN and its larger peer, QVC.”

Shares of HSN (NASDAQ:HSNI) opened at 63.74 on Friday. HSN has a 52 week low of $42.19 and a 52 week high of $65.00. The stock’s 50-day moving average is currently $56.92. The company has a market cap of $3.402 billion and a P/E ratio of 26.61.

HSN (NASDAQ:HSNI) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.06. The company had revenue of $812.60 million for the quarter, compared to the consensus estimate of $805.11 million. During the same quarter in the previous year, the company posted $0.61 earnings per share. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. Analysts expect that HSN will post $3.06 EPS for the current fiscal year.

Separately, analysts at Sidoti upgraded shares of HSN from a “neutral” rating to a “buy” rating in a research note to investors on Tuesday, July 23rd.

Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. HSN currently has an average rating of “Buy” and an average target price of $71.33.

In other HSN news, CEO Mindy F. Grossman sold 20,000 shares of the stock in a transaction that occured on Monday, July 22nd. The shares were sold at an average price of $57.83, for a total value of $1,156,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

HSN, Inc (NASDAQ:HSNI) is an interactive multichannel retailer.

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