UPDATE: Wedbush Lowers PT on Aeropostale from $14 to $11

Wedbush has published a research report on Aeropostale

lowering the price target from $14.00 to $11.00. In the report, Wedbush wrote, "We believe the stock will likely continue to face near-term pressure as management guided to a disappointing Q3 EPS range well below Street expectations. ARO's failure to deliver a compelling product mix combined with aggressive markdowns to clear out lingering inventories (+6.5%/sq ft) suggests heavy margin deterioration with negative momentum entering the crucial BTS and Holiday seasons (despite indications of some improvements in early August)." Wedbush rated Aeropostale a Neutral with a price target lowered from $14.00 to $11.00. Aeropostale closed Thursday at $12.49.