UPDATE: Jefferies Lowers PT on Aeropostale Following Weak 2Q Results
In a report published Friday, Jefferies analyst Randal J. Konik reiterated a Buy rating on Aeropostale (NYSE: ARO), but lowered the price target from $20.00 to $15.00.
In the report, Jefferies noted, “In what's beginning to feel like deja vu across teen retail this season, ARO slashed expectations for 3Q following a weak 2Q and similar implosions at peers. Traffic declines and a highly competitive environment were to blame, rendering improvements in merchandise null and void for now. We still see opportunity here, but believe mgmt needs to be more aggressive with its strategic initiatives to effect meaningful change. Maintain Buy, PT to $15.”
Aeropostale closed on Thursday at $10.98.
Latest Ratings for ARO
|Aug 2015||Wolfe Research||Initiates Coverage on||Peer Perform|
|May 2015||FBR Capital||Maintains||Market Perform|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.