News

Office Depot (ODP) – ($3.88) has been upgraded to a Buy rating according to ValuEngine with fair value at $4.74, which makes the stock 20.1% undervalued. The one-year price target is $4.04. ValuEngine Profile – “Office Depot, Inc., together with its subsidiaries, is the one of the largest suppliers of office products and services in the world. The company sells to consumers and businesses of all sizes through its three business segments: Stores, Business Services and International. As the largest seller of office products around the world, the Company operates under the Office Depot, Viking Office Products, Viking Direct and 4Sure.com brand names.”

Analysis – The daily chart for ODP shows rising momentum with the stock above its 21-day and 200-day simple moving averages at $3.82 and $3.12, but below its 50-day simple moving average at $3.93. My weekly value level is $3.79 with a semiannual risky level at $4.92.

Courtesy of Thomson / Reuters

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer