UPDATE: Oppenheimer Raises Target to $31 on Body Central

Oppenheimer raises its price target on Outperform-rated Body Central

to $31 from $27 as the company is seen to be best-positioned among retailers for outperformance in near- and long-terms. Oppenheimer says, "Our confidence stems from the company's recession-resistant model and proven ability to manage inventories carefully; aggressively clear underperforming goods without sacrificing margins; quickly source/chase product; provide multiple flows/week; maintain consistent fit and effectively interpret new/existing trends in a wallet-friendly manner. Plus significant store growth remains (opportunity to double base) and management is extremely disciplined regarding potential new locations (4-wall profitable within a year). Longer term, new systems are being implemented to lay the foundation for future success." BODY closed at $26.63 a share on Monday.