Every day, Wall Street analysts upgrade some stocks, downgrade others, and "initiate coverage" on a few more. But do these analysts even know what they're talking about? Today, we're taking one high-profile Wall Street pick and putting it under the microscope...
Nearly two years ago, eyeglass and contact lens retailer National Vision Holdings (NASDAQ: EYE) held its IPO at an offering price of just $22. Investor enthusiasm lifted the stock more than 30% to open at $28.75, and within a year, National Vision had passed $45...but it's been all downhill since.
Today, National Vision shares can be had for just $25 and change -- less than they cost on IPO day back in October 2017, and about 50% cheaper than what they fetched a year ago -- and this fact has investment banker Merrill Lynch thinking that National Vision could be an incredible bargain.