Brean Capital Expects Continued Momentum For HSN In 4Q14

Dwight Einhorn

Thu, Feb 19, 2015, 8:27 AM

In a report published Thursday, Brean Capital analyst Tom Forte reiterated a Buy rating and $81.00 price target on HSN, Inc. (NASDAQ: HSNI).

In the report, Brean Capital noted, "HSNi operates the 2nd largest video retailer in the US (HSN) and the Cornerstone portfolio of catalogs (Ballard Designs, Chasing Fireflies, Frontgate, Garnet Hill, Grandin Road, Improvements, and TravelSmith). The company will be reporting 4Q14 earnings on Thursday, February 26th at 8:00 AM ET with its earnings call scheduled for 9:00 AM ET.

"Overall, we are anticipating the company will report strong results because of the momentum at HSN entering the period. In particular, we look for another strong performance in mobile commerce, forecasting it to represent 16.0% of revenue at HSN vs. 14.0% last year and 16.0% in the prior quarter. However, there are a couple items we will be interested in learning more about – the impact (if any) of QVC's changes to its shipping and handling policies on HSN's business and the trends at its Cornerstone unit and if the cold weather in January and February has negated the easy comparison from last year (where the polar vortex negatively affected its results). We are reiterating our Buy rating and 12-month price target of $81, and we are comfortable recommending investor purchase shares in front of earnings."

HSN closed on Wednesday at $67.43.

Latest Ratings for HSNI

Jan 2015	Citigroup	Maintains	Buy
Oct 2014	Wunderlich	Maintains	Buy
Oct 2014	Brean Capital	Initiates Coverage on	Buy

View More Analyst Ratings for HSNI
View the Latest Analyst Ratings

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Brean Capital Expects Continued Momentum For HSN In 4Q14

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