Covering HD Supply's (NASDAQ:HDS) first quarter, I thought that the company was a solid collection of assets with real upside to a recovery in construction and internal operating margin improvement, but I thought the valuation was a little rich. I remarked that the shares would be more interesting at $20, and sure enough investors had a couple of days in which they could have bought below that level.
Since then the shares are up 10% even though the company is not doing particularly well staying on target with respect to sell-side estimates. Even though the company reset revenue expectations lower once again, and a change in CFOs so soon after an IPO is alarming, it looks like...
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