UPDATE: Jefferies Reiterates On Aeropostale Following 1Q EPS Loss

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

, but lowered the price target from $6.00 to $5.00. In the report, Jefferies noted, “ARO posted a 1Q EPS loss ahead of initial guidance and expectations, but countered with an outlook that remains disappointingly bleak. Mgmt's efforts to aggressively close stores, curtail expenses and revive fashion are notable, but nonetheless, visibility of when this all might spring the company back into the black is extremely low. Balance sheet cash is dwindling, but external financing should maintain liquidity for now. Maintain Hold, PT to $5.” Aeropostale closed on Thursday at $4.52.