Brean Capital Believes West Coast Port Situation Is Masking MPW Potential For Christopher & Banks Corporation

In a report published Wednesday, Brean Capital analyst Liz Pierce reiterated a Buy rating and $7.00 price target on

. In the report, Brean Capital noted, "We come out of FY14 more encouraged about the longer-term potential of the MPW concept, especially as we believe CBK's targeted demographic remains underserved. Moreover, we expect assortment enhancements and marketing initiatives to position CBK to capture an increasing share of its targeted customer's apparel spend. That said, we are taking another haircut to earnings primarily reflecting the carryover impact of the West Coast port debacle; however, we continue to forecast EBITDA growth which we believe is a better measure of CBK's operating performance while it undergoes its real estate repositioning strategy. Accordingly, we reiterate our Buy rating and our $7 TP." Christopher & Banks Corporation closed on Tuesday at $5.86.