Haverty Furniture's Growth Opportunities Amid Housing Trends And Retail Bankruptcies: Analyst's Take
Portfolio Pulse from Shivani Kumaresan
Benchmark analyst Michael Legg initiated coverage on Haverty Furniture Companies Inc (HVT) with a Buy rating and a price target of $41. The analyst believes that HVT's strong sales during COVID, improved margins due to internal initiatives, positive migration trends in key states, and a debt-free balance sheet with significant free cash flow make it an attractive investment. The company's stock is currently trading higher by 3.9% at $31.94.
July 11, 2023 | 7:37 pm
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Haverty Furniture Companies Inc (HVT) received a Buy rating from Benchmark analyst Michael Legg, who set a price target of $41. The analyst cited the company's strong sales, improved margins, positive migration trends, and a strong balance sheet as reasons for the rating.
The analyst's positive rating and the reasons given for it, such as strong sales, improved margins, positive migration trends, and a strong balance sheet, are likely to have a positive impact on HVT's stock price in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100