Goldman Sachs Resumes Coverage on Ascena Retail Group with a Neutral Rating and $20 PT

In a report published by Goldman Sachs, analyst Taposh Bari resumed coverage on Ascena Retail Group ASNA with a Neutral rating and a 12-month $20 price target. Goldman Sachs reported that, “We have mixed views of ASNA's core portfolio. Starting with the good, we like the relative brand positioning and promotional expertise at Justice. Although a concept less understood, Maurices' consistent margin performance in the 12%-13% range gives us confidence in that business. We see less visibility in the Dress Barn and Lane Bryant banners, however, as their competitive pressures appear more intense and margin outlooks less clear.” Shares of Ascena Retail Group closed at $18.72 on Thursday.