Jefferies Tweaks Quiksilver Estimates, Maintains Buy And $4 PT

Jefferies commented on its estimates adjustments for Quiksilver

and maintained the company's Buy rating and $4 price target in a research report published today. In the report, Jefferies said, "We are tweaking our ZQK estimates for FY12 to reflect an even greater bias towards the second half of the year. This is mainly a reflection of: 1) lower product costs in 2H, 2) greater SG&A leverage in 2H, 3) greater sales growth in 2H. Management at the ICR Xchange is a near-term catalyst." Shares of Quiksilver are currently trading at $3.33, down 3.76% from Friday's close.