UPDATE: Jefferies Raises PT to $27 on Zumiez

Jefferies increases its price target to $27, up $1, on Hold-rated Zumiez

following the company's Q4 results. Jefferies says, "4Q results show that ZUMZ continues to have great market positioning with few competitive threats, strong growth opportunities and a loyal customer base. The outlook ahead remains bright; however, we find it tough to step in here at current levels." ZUMZ closed at $32.32 a share yesterday.