AvondalePartners Lifts Rating on Blyth

2007-04-05 | 01:28

An AvondalePartners analyst lifted his rating on Blyth Inc., which makes home fragrance and decor items, citing potential margin expansion ahead. The company swung to a fourth-quarter profit, primarily on a lower goodwill impairment charge, and issued full-year fiscal 2008 earnings guidance well above its prior-year results. However, the company's adjusted earnings outlook, which excludes expected restructuring and impairment charges, is below adjusted results for the previous year. Nevertheless, AvondalePartners' Douglas M. Lane lifted his rating on the stock to “Market Perform” from “Market Underperform.”