UPDATE: JP Morgan Raises PT to $21 on Chico's FAS Post Quarterly Beat
JP Morgan reiterated its Overweight rating on Chico's FAS (NYSE: CHS) and raised its price target from $20 to $21.
JP Morgan commented, "We believe that high expectations and guidance based on a comp acceleration likely weighed on shares following yet another impressive performance by the company. Going forward, we continue to see CHS as a 20%+ annual EPS grower and believe the balance of growth drivers makes it one of the most compelling GARPY stories in our coverage. We believe the post-earnings sell-off affords a compelling entry point with the realization that stretching shares meaningfully above $20 will require flawless execution going forward."
Chico's FAS closed at $18.76 on Friday.
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