Seeking Alpha

Barrington Research bullish on Blackhawk Network's dominant grocery position

  • Blackhawk Network (HAWK +1.4%) shares are higher after Barrington Research initiates coverage with an Outperform rating and PT of $29-$31.
  • Analyst Gary Prestopino thinks Blackhawk's network has a dominant position in the grocery channel with over 20K locations that encompass ~90% of grocery store locations of the top 50 operators in the U.S. and Canada.
  • He notes, "The Blackhawk network benefits consumers, content providers and distribution partners providing a broad selection of prepaid and gift cards in a one-stop location with expanded reach to the consumer driving store traffic and incremental high margin revenues to the retailer."
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