Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Markets & Finance

CS First Boston Raises OfficeMax Rating

OfficeMax (OMX

; $29.43) shares rose Wednesday after CS First Boston upgraded its recommendation on the company to outperform from neutral.

Analyst Gary Balter, who recently met with Sam Duncan, OfficeMax's new chairman and CEO, said he has higher confidence that the company's new management will fix easy execution issues -- or else it will be broken up. Balter noted that moves to consolidate headquarters, close underperforming stores, and fix the supply chain at OfficeMax should at least position the company to reverse some of its recent margin deterioration.

Balter sees 49 cents in earnings per share for OfficeMax during 2005, and raised his earnings per share estimate for 2006 to $1.54 from $1.10. Balter's 12-month price target for the stock is $34 per share.

blog comments powered by Disqus