UPDATE: Goldman Sachs Lowers PT on Tilly's on Weak 1Q13 Outlook
Goldman Sachs analyst Lindsay Drucker Mann published a report on Tily's Inc. (NYSE: TLYS) reiterated its Buy rating and lowered the price target from $17 to $16.
Goldman Sachs reported that, “We are lowering our EPS and price target following disappointing 1Q13 sales and EPS guidance from TLYS on their 4Q12 report. Our Buy-rating has been predicated on: (1) a positive view on TLYS rapid supply chain, (2) a long-term algorithm that supports ongoing 10-15% top-line growth, including low-single digit comp sales, (3) a compelling mid-teens P/E for a model that should fetch a low-20's multiple, and (4) upside optionality if a surf-skate fashion cycle materializes, which we see as likely.”
Shares of Tilly's, Inc. closed at $13.76 on Wednesday.
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