In a report published Friday, Morgan Stanley analyst Jay Sole reiterated an Equal-Weight rating on Express EXPR.
In the report, Morgan Stanley noted, “Q1 showed EXPR now has execution issues. In addition, financially struggling customers and declining traffic remain ongoing problems. Our model forecasts EPS dropping 40% y/y, but we see little chance for a quick FY15 recovery and think risk of another guide-down is high. Remain EW.”
Express closed on Thursday at $13.63.
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