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Staples (SPLS) Stock Earnings Estimates Lowered at Jefferies

NEW YORK (TheStreet) -- Staples (SPLS - Get Report) 2015 earnings estimates were lowered to $0.95 from $0.98 per share at Jefferies, with 2016 earnings estimates cut to $1.00 from $1.03 per share.

The firm maintained its "buy" rating and $20 price target on the stock.

Risks include shrinking industry demand due to the digitization of home and work offices, increased competition from online and brick and mortar retailers, and softer demand for technology hardware, the firm noted.

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However, Staples is seeing strength in Canada as two major retailers close a significant number of stores, the firm added.

"We believe most of this is tech-related, but is helping drive positive comp store sales in Canada retail," Jefferies analysts said.

Staples, based in Framingham, MA, is a provider of products and services that serve the needs of business customers and consumers.

Shares of Staples are...