UPDATE: Wedbush Maintains Neutral, $14 PT on Fred's Following Disappointing June Comps

Loading...
Loading...
Wedbush reiterates its Neutral rating and $14 price target on Fred's
FRED
as June comps came in below consensus. Wedbush comments, "The company's business appears to be better managed despite weaker-than-expected comps for several months due to controlled markdowns and better pharmacy margins from ongoing shift to generics. However, we continue to have some concerns about the core customer with ongoing macro headwinds. Fred's is in the midst of executing a turnaround by implementing a number of new initiatives to differentiate Fred's, including the “Core Five” program for trip-driving (and higher margin) merchandise categories: pet, celebration, home, household supplies and pharmacy." Fred's closed at $15.24 on Tuesday.
Posted In: Analyst ColorPrice TargetReiterationIntraday UpdateAnalyst RatingsWedbush
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...