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UPDATE: Piper Jaffray Raises PT on Cache; Confidence on New CEO Initiatives

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Piper Jaffray maintained Cache (NASDAQ: CACH) with a Neutral rating and raised the price target from $3.00 to $4.00.

Piper Jaffray analyst Neely J.N. Tamminga noted, "New CEO Jay Margolis, a former CEO of Limited Brands' Apparel Group, outlined his strategic priorities, which include reducing time to market, moving towards a broader "lifestyle" assortment, and continuing to invest in the e-commerce channel. We are encouraged by these initiatives, which we would characterize as ambitious yet achievable. Regarding near-term results, it appears that Q1 gross margin will likely be under pressure given clearance inventory that was carried into the quarter from Q4."

Cache closed at $3.86 on Tuesday.

Latest Ratings for CACH

DateFirmActionFromTo
Jan 2015Initiates Coverage onBuyNeutral
Nov 2014DowngradesBuyHold
Jan 2014Initiates Coverage onBuy

View More Analyst Ratings for CACH
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Posted-In: Piper JaffrayAnalyst Color Price Target Analyst Ratings

 

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