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Oppenheimer raises its price target on Outperform-rated Body Central
BODY to $31 from $27 as the company is seen to be best-positioned among retailers for outperformance in near- and long-terms.
Oppenheimer says, "Our confidence stems from the company's recession-resistant model and proven ability to manage inventories carefully; aggressively clear underperforming goods without sacrificing margins; quickly source/chase product; provide multiple flows/week; maintain consistent fit and effectively interpret new/existing trends in a wallet-friendly manner. Plus significant store growth remains
(opportunity to double base) and management is extremely disciplined regarding potential new locations (4-wall profitable within a year). Longer term, new systems are being implemented to lay the foundation for future success."
BODY closed at $26.63 a share on Monday.
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