Oppenheimer Upgrades Chico's FAS

In a note published Monday, Oppenheimer upgraded Chico's FAS CHS from Market Perform to Outperform, while raising the price target from $16 to $18.

With negative earnings revisions no longer likely and better inventory management in place, Oppenheimer feels margins should begin to stabilize. They also look for 2015 to be an inflection point in EPS and are confident that new CEO Todd Vogensen can bring a fresh perspective.

Shares of Chico's closed Monday up 0.34 percent at $14.88.