Credit Suisse Initiating Coverage On Zumiez

Credit Suisse is out with a research report on Zumiez Inc. ZUMZ and is initiating coverage with an Outperform rating and a $24 price target on shares. In a note to clients, Credit Suisse writes, "We Are Initiating Coverage of Zumiez with an Outperform Rating and a $24 Target Price. We view Zumiez as one of the few truly differentiated retailers in the mall. We expect benefits from door growth, store productivity recapture, and subsequent operating leverage to drive upside to consensus and subsequent share price appreciation." Shares of ZUMZ are up 52 cents to $18.37 in early Thursday trading.