UPDATE: Piper Jaffray Raises Zumiez's PT

Loading...
Loading...
According to a research report published earlier today, Piper Jaffray has increased Zumiez's
ZUMZ
PT from $29 to $34. In the report, Piper Jaffray commented, “On the heels of a better-than-expected March same-store sales report in which the company reported a 14.1% comp above our 8%-10% estimate we are raising our Q1 EPS estimate from $0.09 to $0.10. Our FY13 EPS moves up from $1.44 to $1.46, reflecting 21% EPS growth and an op margin of 11.3% (new peak). While the stock has outperformed the group as a result of continued comp strength which has contributed to the Street's bullish earnings power expectations, we believe that shares are fairly valued. ZUMZ shares are trading at 25x our upwardly revised FY13 estimate ahead of our forecasted 21% Y/Y EPS growth.” Piper Jaffray maintains its Neutral rating on Zumiez, which closed yesterday at $36.95.
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorPrice TargetAnalyst RatingsPiper Jaffray
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...