** Shares of home furnishings retailer Bob's Discount Furniture BOBS.N marginally up after at least six brokerages initiate coverage with largely bullish calls as research quiet period ends
** Co secured a valuation of $2.2 billion after shares opened at $17 in its NYSE debut, same as its offer price
** UBS cites "we're constructive on a credible plan for 10% annual store growth, driving double-digit top-line and a differentiated merchandising model and store experience"
** BOBS is a compelling small‑to‑mid cap growth story, supported by its everyday‑low‑price strategy, strong unit economics and substantial store expansion potential - KeyBanc
** Analyst at RBC says, "While the path back to housing turnover remains unclear, we'd argue the category is now stable and BOBS is well positioned to outperform the industry due to its unique merchandising model"
** BOBS up 20% since its debut on February 5
Brokerage | Rating | PT |
UBS | Buy | $27 |
BofA | Buy | $28 |
Raymond James | Outperform | $25 |
KeyBanc | Overweight | $28 |
J.P. Morgan | Overweight | $29 |
RBC | Outperform | $26 |
(Reporting by Pragyan Kalita in Bengaluru)
((Pragyan.Kalita@thomsonreuters.com;))
