UPDATE: JP Morgan Cuts PT to $13 on Aeropostale on Reduced Guidance
JP Morgan reiterated its Neutral rating on Aeropostale (NYSE: ARO) and reduced its price target from $14.00 to $13.00.
JP Morgan commented, "[A]lthough ARO is seeing measured success, the ultimate progress remains a work in progress. As such, we will continue to monitor the company's execution for signs of an ability to drive greater reg price sell-through as they continue their move to become more of a fashion retailer and less of a basics retailer. However, in the interim, with volatile trends and still room for sales productivity to decline from $540/ft, we choose to remain sidelined until there is greater clarity around their ability to turn the business into more of a fashion resource for its core customer."
Aeropostale closed at $12.38 on Friday.
Latest Ratings for ARO
|Dec 2014||Morgan Stanley||Maintains||Underweight|
|Aug 2014||Wunderlich||Initiates Coverage on||Hold|
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.