UPDATE: Jefferies Raises PT on Body Central Following Soft 1Q Numbers
In a report published Friday, Jefferies analyst Randal J. Konik reiterated a Hold rating on Body Central Corp. (NASDAQ: BODY), and slightly raised the price target from $8.00 to $9.00.
In the report, Konik noted, “BODY reported soft 1Q numbers, as expected, but we don't think it really matters as the company has a new management team in place, lowered expectations and most importantly has a very strong balance sheet (~25% of market cap). We think it will be some time before the stock potentially moves higher but see a lot of the bad news as already baked in at current levels.”
Body Central Corp. closed on Thursday at $10.28.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.