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UPDATE: Wedbush Securities Reiterates Outperform Rating, Raises PT on Fifth & Pacific Companies

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In a report published Friday, Wedbush Securities reiterated its Outperform rating on Fifth & Pacific Companies (NYSE: FNP), and raised its price target from $14.00 to $17.00.

Wedbush Securities noted, “We are revising our model to incorporate mgmt's 4Q update and initial outlook for 2013 adj EBITDA. We also acknowledge that our cautious stance going into the ICR conference was incorrect. While we had anticipated a lower than consensus guide for 2013 and were braced for a potential 4Q disappointment (primarily due to the worsening Holiday retail backdrop,) market expectations may have been too cautious. Holders were comforted by mgmt's comments regarding its commitment to ‘deliver value to shareholders' which also likely inspired demand for the shares that may have been waiting on the sidelines in anticipation of a better entry point. Nevertheless, our long-term view remains bullish.”

Fifth & Pacific Companies closed on Thursday at $14.76.

Latest Ratings for FNP

DateFirmActionFromTo
Jan 2014Brean CapitalDowngradesBuyHold
Dec 2013Imperial CapitalMaintainsOutperform
Nov 2013Monness Crespi HardtMaintainsBuy

View More Analyst Ratings for FNP
View the Latest Analyst Ratings

Posted-In: Wedbush SecuritiesAnalyst Color Price Target Analyst Ratings

 

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