UPDATE: Wedbush Reiterates On H&R Block Ahead Of Analyst Day

In a report published Tuesday, Wedbush analyst Gil Luria reiterated an Outperform rating on H&R Block Inc (NYSE: HRB), and raised the price target from $38.00 to $40.00.

In the report, Wedbush noted, “We believe HRB will be able to deliver sustainable double-digit shareholder returns based on 3-5% revenue growth, operating leverage, meaningful buybacks and above-market dividend yield. We further believe HRB can deliver those types of returns in a range of economic backdrops, which would make it a strong ‘Consumer Staple'. H&R Block will report FQ2 earnings next Monday after the close and hold its analyst day next Tuesday in New York.”

H&R Block closed on Monday at $33.48.