WR Hambrecht upgraded 1-800-Flowers (FLWS) to strong buy from buy.
Analyst Kristine Koerber says she is upgrading on valuation. She believes the business remains solid at the company, and she sees no fundamental reason for the recent pullback in the company's share price. Koerber remains optimistic toward the company's long term prospects, and she expects it to continue to gain market share.
Koerber biews the stock as extremely attractive at current levels, and she remains comfortable with her projections. She also believes the comany is on track to meet her fourth quarter estimate of $0.07 earnings per share and fiscal 2002 estimate of a $0.03 loss. For fiscal 2003, she sees $0.36 EPS. Koerber maintains her $16 target.