UPDATE: Wedbush Upgrades Rating on Pacific Sunwear On Improving Fundamentals

In a report published on Thursday Wedbush upgraded their rating on Pacific Sunwear of California

from Underperform to Neutral. Wedbush also changed their price target on the company from $2.00 to $3.75. In the report Wedbush stated that, "We are upgrading shares of PSUN to NEUTRAL on signs of a sustainable turnaround given (1) an acceleration in comp momentum driven by improvement in women's, (2) rebound in margins, (3) improving store productivity, and (4) a stabilizing cash balance." Pacific Sunwear is up 0.37 points and currently trades at $3.29.