NEW YORK (TheStreet) -- Party City (PRTY) - Get Report shares closed Thursday's trading session up by 0.8% to $15.04 after Barclays issued a note to investors earlier this morning, beginning coverage of the stock with an "equal weight" rating and a $16 price target.
"We like the company's overall category dominance and focus on vertical integration," analysts said.
However, the firm sees risks from high levels of debt leverage combined with muted comp store sales.
Until they see more positives, the firm is staying on the sidelines for now.
Based in Rockaway, NJ, Party City designs, manufactures, sources, and distributes party supplies in the U.S. and internationally.