Brean Murray Upgrades J.Crew Group (JCG) to Hold
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Brean Murray upgrades J.Crew Group (NYSE: JCG) from Sell to Hold.
Brean analyst says, "We are raising our rating to Hold and materially raising our estimates after the company proved the robustness of its business model and proved virtually every one of the tenets of our Sell thesis incorrect. As such, while we believe the valuation of JCG remains too high, we believe, given the 1QFY10 upside and 2QFY10 guidance, and with the company facing materially easier comparisons in 2HFY10, that the potential for a performance-based top and bottom-line miss has materially declined; as such, with no material negative catalysts obvious to us, we cannot maintain a Sell rating. That said, with JCG trading at among the highest multiples in our universe, we do not believe a Buy rating is justified either. As such, we will remain on the sidelines, try to readjust our "blinders" and determine the next turning point in JCG."
To see more analyst ratings on JCG Click Here.
J.Crew Group, Inc. is an integrated multi-channel, multi-brand, specialty retailer. The Company offers complete assortments of women’s, men’s and children’s apparel and accessories, including wedding and special occasion attire, weekend clothes, swimwear, loungewear, outerwear, shoes, bags, belts, hair accessories and jewelry.
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