Brean Capital Calls Express (EXPR) "Cheap"

November 28, 2012 3:42 PM EST
Get Alerts EXPR Hot Sheet
Price: $10.74 --0%

Rating Summary:
    8 Buy, 10 Hold, 3 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 29 | Down: 28 | New: 6
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Brean Capital maintained a Buy rating on Express Inc. (NYSE: EXPR) and raised its price target to $21.00 (from $16.00) following the company's Q3 results. Analysts called the stock "cheap" and said it was a "turnaround play".

"We remain buyers of EXPR after the company beat tepid expectations and gave indications they are back on the path to solid results and a return to prominence," said analyst Eric Beder.

"Given our worries entering the quarter, and a YoY increase in the level of Black Friday discounting we were pleasantly surprised that Express registered 3Q upside and presented strong indications, in the form of better-than-expected 4Q guidance and a strong start to the Holiday season," added the analysts.

Beder believes the company's strategy to drive premium returns will allow EXPR to regain favor with investors.

For an analyst ratings summary and ratings history on Express Inc. (NYSE: EXPR) click here. For more ratings news on Express Inc. click here.

Shares of Express Inc. closed at $12.99 yesterday.

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