UPDATE: Piper Jaffray Raises PT to $19 on Express on Signs of Stabilization

Piper Jaffray reiterated its Overweight rating on Express EXPR and raised its price target from $15 to $19. Piper Jaffray commented, "We are reiterating our Overweight rating on EXPR shares in view of stabilizing samestore sales trends and a better-than-anticipated FQ4 outlook. Looking into next year, EXPR shares are likely to emerge as a top small-cap recovery candidate for 2013 among investors. Our longer-term confidence in Express's ability to rebound rests in 1) their iterative test-and-react process in product choices; 2) the brand's recent re-entry into the top ten rankings in our proprietary consumer behavior survey work this fall; and 3) an experienced and focused bench of management talent manifested recently in President David Kornberg's elevation." Express closed at $12.99 on Tuesday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorPrice TargetIntraday UpdateAnalyst RatingsPiper Jaffray
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!