Market Overview

UPDATE: JP Morgan Cuts PT to $20 on Express on Promotionas, Reiterates Overweight on Potential Upside

Related EXPR
Top 4 NYSE Stocks In The Apparel Stores Industry With The Lowest PEG Ratio
Bear of the Day: Express (EXPR) - Bear of the Day
Express Logs 4Q Profit Miss, Ugly Guidance (Fox Business)

JP Morgan maintained Express (NYSE: EXPR) with an Overweight rating and lowered the price target from $23.00 to $22.00.

JP Morgan analyst Simeon A. Siegel wrote, "Interestingly, with incremental GM expenses and weaker-than-expected sales trends driving a disappointing guide, most of our post-earnings discussions with investors centered around whether this was the opportunity to begin a position. We recognize that with deeper promotions driving 1Q merch margin pressure, watching for growing inventory and markdown levels will be crucial. However, the fact that management was optimistic about customer reception to product dominated our conversations and assuming promotional cadence remains controlled, we believe shares have support."

Express closed at $18.08 on Thursday.

Posted-In: JP MorganAnalyst Color Price Target Analyst Ratings


Most Popular

Related Articles (EXPR)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free