ODP Corporation initiated with an Outperform at Noble Capital

Noble Capital analyst Joe Gomes initiated coverage of ODP Corporation with an Outperform rating and $65 price target. This is “not your father’s Office Depot,” with two established cash flowing businesses in ODP Business Solutions and Office Depot along with two growth businesses in Veyer and Varis, says the analyst, who also highlights “an aggressive share repurchase program returns excess capital to shareholders.”