Morgan Stanley reiterated its Underweight rating and $21 price target on Guess? GES following the announced resignations of the company's CFO and COO.
Morgan Stanley said, "Guess? announced the resignations of Dennis Secor, Senior Vice President and Chief Financial Officer, and J. Michael Prince, Chief Operating Officer. Both are leaving to pursue other interests. We recently initiated with an Underweight rating on Guess, as we believe their
strategy to elevate the brand in North America during a more promotional and uncertain retail environment will be challenging. We also believe European revenue growth will be challenged as unemployment continues to
rise in their key markets of Italy and France."
Guess? closed at $25.89 on Thursday.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in