Zacks Investment Research upgraded shares of Kirklands Inc (KIRK) from NEUTRAL to OUTPERFORM on February 21, 2013, with a target price of $14.00.
We are upgrading our recommendation on Kirkland's to Outperform from Neutral as the demand for its home d cor products is expected to go up with the improving fundamentals in the overall housing sector as reflected in its fourth quarter pre-announced net sales growth of 9%. The fourth quarter is traditionally the strongest for the company and accounts for almost 80% of the company's earnings every year due to the holiday season. We are also encouraged by the growing e-commerce business and fast expansion throughout U.S. Moreover, Kirkland has bright long term prospects as it improves its brands and merchandising processes and works on reformative measures like new marketing strategies and technological enhancements to boost its earnings.
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