Zacks All-Star Analyst Issues Recommendations for 4 Stocks: PETM, DG, STGS, and ROST
CHICAGO, April 2 /PRNewswire/ -- David Mann's +242% profit in 2001 is no April Fool's joke. This Specialty Retail analyst is serious about profits and has already returned +205% this year. Find out what David recommends going forward. Let him show you where to look allstarpicks.zacks.com
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Here are the details on Analyst David Mann's Stock Picks for today:
PETsMART (Nasdaq: PETM) is a provider of products, services and solutions for the lifetime needs of pets. Mann thinks that the strong potential to increase market share and external environment conditions, will help PETM for years to come. PETsMART has had some obstacles to overcome like systems conversions and in-stock problems, but since 2001 they have these things well in hand. A growing part of their business is in the grooming and training areas. The grooming business alone is seeing an increase around 20-25% per year. Mann also points out that PETM has had an excellent balance sheet over the past 18 months. Mann has a 12-month price target in the high teens.
Dollar General Corporation (NYSE: DG) is a discount retailer of general merchandise through conveniently located neighborhood stores. Mann points out Dollar General has had some accounting problems that scared many investors earlier this year, but DG is working hard to correct them. It should be pointed out that the difference between these problems and those of Enron is reflected in the fact that DG found the problems themselves and took the initiative to correct them. He also believes there is great upside potential as the accounting mess is corrected and expects a 12-month price target to be in the $20-22 range.
Stage Stores, Inc (Nasdaq: STGS) operates retail stores offering moderately priced, nationally recognized brand name apparel, accessories, cosmetics and footwear for the entire family in small towns and communities located primarily throughout the south central United States. In June 2000, Stage filed for Chapter 11 protection and has begun its reorganization by closing 108 of its stores and entered into a three-year, $450 million debtor- in-possession credit facility with Citicorp USA Inc.
Mann points out that previous management was too aggressive in its growth plans by leveraging its balance sheet with debt. Mann is confident that Stage will continue to grow and has a 12-month price estimate in the mid $30's.
Ross Stores Inc. (Nasdaq: ROST) operates a chain of off-price retail apparel and home accessories that offer brand name and designer merchandise at prices generally 20% to 60% below regular prices of most department and specialty stores.
Mann sees the growth of off-price retail stores coming from two primary areas. The first is from consumers spending less at department looking for better deals. In an economy that is just beginning its recovery, consumers are looking to get the most for their money and off-price retailers are providing it. The second comes from vendors now willing to work with retailers like Ross and TJ MAXX (NYSE: TJX).
Mann believes that Ross's ability to gain market share and believes the 12-month target for ROST to be in the mid $40's.
Be sure to read the rest of the article for significant industry commentary and more in-depth discussion of stocks poised to perform! allstarpicks2.zacks.com
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