UPDATE: Jefferies Reiterates Hold Rating, Raises PT on Body Central Corp. Following Soft 1Q Numbers

In a report published Friday, Jefferies analyst Randal J. Konik reiterated a Hold rating on Body Central Corp.

, and slightly raised the price target from $8.00 to $9.00. In the report, Konik noted, “BODY reported soft 1Q numbers, as expected, but we don't think it really matters as the company has a new management team in place, lowered expectations and most importantly has a very strong balance sheet (~25% of market cap). We think it will be some time before the stock potentially moves higher but see a lot of the bad news as already baked in at current levels. Reiterate Hold.” Body Central Corp. closed on Thursday at $10.28.