If the TV is on Buy on HSN
HSN Inc (HNSI) known by most of you as the Home Shopping Network was added to my Wall Street Survivor portfolio and is covered on my blog Financial Tides. What caught my eye was 17 new highs in 20 trading sessions and press releases that they will be carrying Serious Skin Care's FIRMA-FACE XP product line. This is their largest product launch to date with 103,000 units sold in the first 4 day. Landenburg Thalmann announced that they have initiated coverage of this stock with a BUY recommendation.
HSNI is a retailer and interactive lifestyle network offering a broad range of products through TV home shopping programming and on the Internet through HSN.com. They are the leader in the TV home shopping industry far out selling Value Vision (VVTV) and privately held QVC and Access Television Network.
The 3 analyst that cover HNSI have a STRONG BUY consensus rating and project sales growth of 2.5% and earnings growth of 13% next year. Good fundamentals.
On the technical analysis side BarChart's 13 TA indicators rate 12 out of 13 as a BUY with 1 HOLD. That's an over all rating of 96% BUY. There has been a 65 day price appreciation of 83% and the stock has had positive week to week price appreciation for 4 straight weeks.
Recommendation: BUY around 15 with a protective stop loss at 12.
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Jim Van Meerten is a full time investor and blogs on Financial Tides, MSN's Top Stock Blog and Seeking Alpha.
Disclosure: I hold no positions in HNSI at time of publication and do not hold actual positions in the companies I blog about. For accountability I hold my recommendations in simulated portfolios on Wall Street Survivor and Marketocracy.