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Stock Watch: Drooping 1-800-Flowers might signal a bargain; Slide in price follows weak sales; company is a survivor.(share price movements, 1-800-FlOWERS.COM.Inc.)
Crain's New York Business, July, 2004 by Jain, Anita
Byline: anita jain Everything hasn't been coming up roses for floral and gift e-tailer 1-800-Flowers.com. The stock has wilted 31% so far this year, with a sharp sell-off in the last two weeks alone. But investors may catch the whiff of a bargain now that the shares have fallen so dramatically.
The Westbury, L.I.-based company has strong fundamentals and will benefit from a robust and growing e-commerce culture. "The valuations are more compelling,'' says Robert Labick, an analyst at CJS Securities. He changed his "hold'' rating to a "buy'' when the stock dropped below $9 late last month. He has a 12-month price target of $11 to $12 for the stock. The shares closed at $7.61 on Friday. Missing sales target The most recent slide came after the online...
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