UPDATE: Topeka Capital Markets Reiterates On Aeropostale As Plan Back To Profit Takes Shapes

In a report published Friday, Topeka Capital Markets analyst Dorothy S. Lakner reiterated a Hold rating on

, but lowered the price target from $4.00 to $2.50. In the report, Topeka Capital Markets noted, “ARO's 3Q was in line, but after a good start to November, sales slowed significantly over Black Friday weekend, putting a damper on holiday cheer. Returning CEO Julian Geiger laid out a plan to get ARO back on track and on towards profitability, but as with other teen turnarounds, this one will take time too, given the multiple initiatives going on. Given ongoing challenges, we are reducing our PT to $2.50 from $4 and would stay on the sidelines till the plan has more time to unfold.” Aeropostale closed on Thursday at $2.48.