Piper Jaffray Has Overweight Rating On The Dress Barn (DBRN)
Piper Jaffray has an Overweight rating on The Dress Barn, Inc. (NASDAQ: DBRN), and is reiterating its $30 price target on the stock after the retailer reported earnings.
In the research note, Piper Jaffray writes, "We are reiterating our Overweight rating following Dress Barn's FQ4 report in which the company issued FY11 EPS guidance of $2.05 to $2.15. Although our FY11 EPS estimate of $2.16 is a penny above the high end of management's guidance, we continue to believe that this is an achievable number and are leaving our estimate intact. It appears that same-store sales for the first six weeks of FQ1 were up in the mid-single-digits, in-line with our FQ1 estimate of +4.8%."
Shares of Dress Barn lost 31 cents yesterday to close at $24.44, a loss of 1.25%.
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