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Investing.com - UBS raised its price target on National Vision Holdings (NASDAQ:EYE) to $30.00 from $20.00 on Tuesday, while maintaining a Buy rating on the optical retailer’s stock. The new target represents the highest among analysts covering the stock, which has already delivered an impressive 123.9% return year-to-date.
The price target increase represents a 50% upward revision from the investment bank’s previous valuation of the company’s shares.
UBS cited a "catalyst rich path" for National Vision that provides a positive risk-reward profile for the stock, despite recent price appreciation over the past couple of months.
The investment firm expects National Vision’s future stock appreciation to come from both an upward estimate revision cycle and further multiple expansion.
National Vision Holdings operates a chain of optical retail stores across the United States, offering eye exams, eyeglasses, and contact lenses.
In other recent news, National Vision Holdings has been the focus of several analyst upgrades and strategic financial developments. Barclays (LON:BARC) upgraded the company’s stock rating to Overweight, citing transformation efforts, improved optometrist coverage, and a promising management team. BofA Securities increased its price target to $26.00, maintaining a Buy rating, due to confidence in strategic initiatives like pricing actions and product assortment improvements. Meanwhile, BMO Capital Markets raised its price target to $19.00, acknowledging the company’s efforts to enhance customer experience and sales effectiveness.
Additionally, Citi analysts upgraded National Vision to Buy, setting a new price target of $21.00, highlighting the company’s role as a low-cost provider and its ability to perform well across economic cycles. On the financial front, National Vision successfully settled $84.8 million of convertible notes, utilizing cash reserves and its revolving credit facility, showcasing its solid financial position. The company maintains $268.6 million in available funds under its credit facility, reinforcing its capacity for future growth. These developments collectively reflect a positive outlook for National Vision Holdings as it continues to execute its strategic initiatives and strengthen its market position.
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