Market Overview

UPDATE: Brean Murray Carret Reiterates Buy, $4 PT on The Wet Seal Following In-Line June Comps

Related WTSLA
The Wet Seal President and COO Ken Seipel Resigns, Company Announces $25M Share Buyback
Announces Workforce Reduction, Eliminates COO Role; Announces $25M Buyback Plan
Related WTSLA
The Wet Seal Names John Goodman as Chief Executive Officer
Are Retail Stocks a Value Play or Value Trap?

Brean Murray Carret reiterated its Buy rating and $4 target price on The Wet Seal (NASDAQ: WTSLA) as June comps came within the range of expectation despite a tough month for the sector.

Brean Murray Carret comments, "We reiterate our Buy rating, $4 target price and estimates, after WTSLA reported June same-store sales slightly below Street consensus, but within our range; we note June was one of the toughest comp comparisons of last year. As expected, a continued, aggressive promotional atmosphere at both Wet Seal and Arden B. in order to clean excess inventories for the Backto-School/Fall transition season drove June's comp decline."

The Wet Seal closed at $3.28 on Tuesday.

Latest Ratings for WTSLA

DateFirmActionFromTo
Oct 2012B. RileyDowngradesBuyNeutral
Oct 2012Piper JaffrayMaintainsNeutral
Jul 2012B. RileyUpgradesNeutralBuy

View More Analyst Ratings for WTSLA
View the Latest Analyst Ratings

Posted-In: Brean Murray CarretAnalyst Color Price Target Reiteration Intraday Update Analyst Ratings

 

Related Articles (WTSLA)

Around the Web, We're Loving...

Get Benzinga's Newsletters