Market Overview

UPDATE: Morgan Stanley Downgrades Ann to Equal-Weight on Risk/Reward

Related ANN
Benzinga's M&A Chatter for Tuesday April 15, 2014
Benzinga's Top Downgrades
After 4Q Beat, Ann Taylor to Cut 5% of Workforce (Fox Business)

Morgan Stanley reduced its rating on Ann (NYSE: ANN) from Overweight to Equal-weight and removed its $36 price target.

Morgan Stanley commented, "We think ANN's 69% two year stock price gain shows the market now appreciates the company's sales and margin improvement story. At 14x FY13 EPS, a 4-turn y/y rise, we see a balanced risk/reward and downgrade to Equal-weight."

Ann closed at $36.56 on Monday.

Posted-In: Morgan StanleyAnalyst Color Downgrades Intraday Update Analyst Ratings

 

Most Popular

Related Articles (ANN)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free