Brean Murray Carret Remains Bullish on Shares of Wet Seal (WTSLA), Raises Estimates

Brean Murray Carret & Co. is reaffirming its Buy rating and $5.50 price target on shares of Wet Seal, Inc. (NASDAQ: WTSLA) following the release of its Q3 results.

The company reported Q3 earning slightly above expectations and released Q4 guidance inline with the consensus. Operating margin of 4.5 percent topped the firms estimate by 30 percent.

To go inline with the strong quarterly results and Q4 guidance, Brean Murray Carret has increased its FY12 and FY13 EPS estimates from $0.20 and $0.25 to $0.22 and $0.26. Revenue for the two years is estimated to be $627.13 million and $677.63 million.

For an analyst ratings summary and ratings history on Wet Seal, Inc. click here. For more ratings news on Wet Seal, Inc. click here.

Shares of Wet Seal, Inc. closed at $3.08 yesterday, with a 52 week range of $3.07-$5.23.

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