UPDATE: Jefferies Lowers PT on Aeropostale Following Weak Q4
Jefferies maintained Aeropostale (NYSE: ARO) with a Buy rating and lowered the price target from $18.00 to $17.00.
Jefferies analyst Randal J. Konik commented, "ARO reported a weak 4Q which was no surprise following the Holiday sales release and recently lowered guidance. Trends clearly remain challenged, but we believe expectations are now low enough for FY'14. This stock call continues to be based on the strong balance sheet ($230M cash at yr end) and cash generating properties of ARO. We see downside as limited and attractive risk/reward."
Aeropostale closed at $14.51 on Thursday.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.