Chico's (CHS) Q1 'Intact', Buy Pullback - Wedbush

April 19, 2013 1:18 PM EDT
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Price: $13.45 -0.37%

Rating Summary:
    11 Buy, 18 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 13 | Down: 22 | New: 54
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Analysts at Wedbush think the recent pullback in shares of Chico's, Inc. (NYSE: CHS) create a compelling buying opportunity. Checks by the firm showed Q1 remains "intact."

"While shares of CHS are likely pricing in an earnings miss (stock down -1% since Q4 earnings on 2/28 vs. overall group appreciation of +3%) given macro and weather, our Retail Specialists have called out strong traffic and conversion at both Chico's and WHBM. We also note clean inventories (down -1.6% psf at Q4- end) has allowed CHS to deliver highly successful, targeted promotions that have been generally in line with LY, which should protect gross margins," said analyst Betty Chen.

Wedbush has an Outperform rating on Chico's, Inc. with a price target of $22.00.

For an analyst ratings summary and ratings history on Chico's, Inc. (NYSE: CHS) click here. For more ratings news on Chico's, Inc. click here.

Shares of Chico's, Inc. closed at $16.78 yesterday.

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