UPDATE: Monness Crespi Hardt Initiates Coverage on Quiksilver with Buy Rating, $11 PT on Potential for Meaningful Margin Improvement

In a report published Monday, Monness Crespi Hardt analyst Jim Chartier initiated coverage on

with a Buy rating and $11.00 price target. In the report, Monness Crespi Hardt noted, “We are initiating coverage of Quiksilver, Inc. (ZQK) with a Buy rating and $11 price target. We see the potential for meaningful margin improvement over the next three years as the company transitions from a founder-led organization to a more efficient, global apparel and footwear company.” Quiksilver closed on Friday at $8.28.