Guess (GES) PT, Estimates Cut at Jefferies Following Miss on Weak NA
- Wall Street flat as banks gain, utilities drag
- Equinix (EQIX) Announces $3.6B Acquisition of Data Center Portfolio from Verzion (VZ)
- Deal Progress Said to Slow as Johnson & Johnson (JNJ) Puts Actelion (ALIOY) Under Microscope - Source
- Trump Wants to Cancel New Air Force One Order with Boeing (BA)
- Roper Industries (ROP) to acquire Deltek in $2.8B Deal
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
Jefferies analyst Randal Konik reiterated a Hold rating and cut his price target on Guess (NYSE: GES) to $15.00 (from $17.00) following the company's Q3 miss.
commented, "GES reported a 3Q miss, driven largely by weakness in the Americas, offset by progress in Europe. While we think mgmt is taking the necessary steps for the LT, we look for signs of N. America improving (including progress on the inventory overhang) and stabilization in licensing to become more constructive NT. Maintain Hold, PT to $15."
The firm cut Q4 EPS from $0.66 to $0.46, FY 2016 EPS from $0.72 to $0.48 and FY 2017 EPS from $0.90 to $0.76.
Shares of Guess closed at $15.32 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Stifel Downgrades PennTex Midstream Partners, LP (PTXP) to Hold
- UPDATE: Stifel Upgrades Martin Midstream Partners (MMLP) to Buy
- UPDATE: Stifel Downgrades Arc Logistics Partners (ARCX) to Hold
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesJefferies & Co, Randal Konik
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!