Brean Murray Carret & Co. Reiterates a 'Buy' on New York & Co (NWY); Stronger-than-Expected Performances

July 13, 2012 8:20 AM EDT
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Price: $2.18 --0%

Rating Summary:
    2 Buy, 6 Hold, 0 Sell

Rating Trend: Up Up

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    Up: 3 | Down: 5 | New: 17
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Brean Murray Carret & Co. reiterates a 'Buy' on New York & Co (NYSE: NWY) price target of $4.50.

Brean analyst said, "...raising our FY13 EPS projection to ($0.00), from a loss of $0.08, and maintaining our FY14 EPS estimate of $0.15 after stronger-than-expected performances throughout 2QFY13 led New York & Company management to raise quarterly guidance. As the company remains focused on driving in-store productivity, enhancing the assortment, improving marketing, reducing costs, optimizing its store base and expanding its higher margin outlet and e-commerce channels, we believe we will continue to see evidence that the turn is taking hold. While we continue to view this transformation process as a work-in-progress, we believe the gears are shifting in NWY’s favor and we are becoming more confident the turn is near."

For an analyst ratings summary and ratings history on New York & Co click here. For more ratings news on New York & Co click here.

Shares of New York & Co closed at $3.54 yesterday.

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