In a report published on Thursday, Wedbush analyst Betty Chen upgraded Zumiez ZUMZ from Neutral to Outperform and raised the price target from $30 to $36.
In the report, Wedbush stated, "We are upgrading shares of ZUMZ to OUTPERFORM from NEUTRAL given a shift towards “California Fashion” and “Urban Influences” and the company's opportunities to (1) drive comps via unique assortments and bundling strategies against easing compares, (2) opex opportunity against LY's integration costs and LT Blue Tomato growth, (3) assortment planning by style/size/fit for supply chain efficiencies, and (4) omni-channel as another means to boost sales via increased brand awareness and accessibility for the core teen male consumer."
Zumiez closed on Thursday at $27.95.
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