UPDATE: Jefferies Reiterates On Francesca's Holdings Corp After Throwing Kitchen Sink At Guidance

In a report published Wednesday, Jefferies analyst Randal J. Konik reiterated a Buy rating on

, but lowered the price target from $21.00 to $19.00. In the report, Jefferies noted, “In 2Q, FRAN saw tough sales and a miss to earnings, compounded by a poor outlook for 2H. However, we see green shoots beginning to appear as non-jewelry categories improve and jewelry trends are better post 2Q. With what looks like the kitchen sink thrown at the goforward guidance, we believe shares are now ripe to buy. We are taking down our PT modestly from $21 to $19. Maintain Buy.” Francesca's Holdings Corp closed on Tuesday at $13.97.