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UPDATE: Piper Jaffray Downgrades rue21 on Announced Take-Out

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rue21 Announces Funds Advised by Apax Close Purchase

In a report published on Thursday, Piper Jaffray analyst Stephanie S. Wissink Downgraded rue21 (NASDAQ: RUE) from Overweight to Neutral and raised the price target on the company from $36 to $42.

In the report, Piper Jaffray noted, "We are moving to a customary Neutral rating on RUE shares as the announced take- out at $42/share by private equity firm Apax Partners places shares at fair market value. We think the business model, with relative comp stability, favorable unit economics, and strong cash generation, makes for an opportunistic PE holding."

rue21 closed Wednesday at $34.12.

Latest Ratings for RUE

DateFirmActionFromTo
Jun 2013JefferiesDowngradesBuyHold
May 2013Janney CapitalDowngradesBuyNeutral
May 2013Piper JaffrayDowngradesOverweightNeutral

View More Analyst Ratings for RUE
View the Latest Analyst Ratings

Posted-In: NASDAQ Piper Jaffray rue21 Stephanie S. WissinkAnalyst Color Downgrades Analyst Ratings

 

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