Imperial Capital Reiterates In-Line Rating, $43 PT on The Buckle

In a report published Wednesday, Imperial Capital reiterated its In-Line rating and $43.00 price target on The Buckle BKE. Imperial Capital noted, “We believe multiple expansion could be limited in the near term given recent sluggish sales trends and limited opportunity for operating margin expansion from current levels unless comps accelerate. Nevertheless, The Buckle remains one of the best operators in the specialty retail industry, in our view, with robust free cash flow, a differentiated product assortment, shareholder-friendly management, and long-term square footage growth opportunities.” The Buckle closed on Tuesday at $43.14.