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In a report published Friday, Credit Suisse analyst Christian Buss reiterated a Neutral rating on
Zumiez Inc.ZUMZ, and raised the price target from $34.00 to $36.00.
In the report, Credit Suisse noted, "Zumiez executed exceptionally well in 4Q, with comps of 8%, gross margin up Y/Y for the first time in 10 quarters, and SG&A expense well controlled. In addition momentum looks to be intact in early FY15, with guidance looking conservative. We continue to view low-to mid-teens EPS growth as sustainable in the near-term. More limited store expansion opportunities and valuation are our hold backs. We maintain our Neutral rating and raise our target price to $36 from $34."
Zumiez closed on Thursday at $39.96.
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