Jefferies Pounds the Table on Guess? (GES), Still Sees Shares Nearly Doubling
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Price: $30.19 --0%
Rating Summary:
2 Buy, 7 Hold, 4 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 0 | Down: 1 | New: 6
Rating Summary:
2 Buy, 7 Hold, 4 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 0 | Down: 1 | New: 6
Trade GES Now!
Shares of Guess? (NYSE: GES) are outperforming the broader stock market very modestly Thursday afternoon following some bullish comments from Jefferies' Randal Knoik earlier. While the Dow is currently up 0.8 percent at last check, Guess? shares are up about 0.9 percent to $27.17.
Konik believes Guess?'s North American sales are "about to turn the corner," and also pointed at stabilization in Europe. The analyst specifically noted signs of improvement in Italy. Konik argued higher marketing expenses suggest management is confident in the brand -- a brand which he reassured is "not dead."
The Jefferies analyst said the company's negative earnings revisions are now over, and was encouraged by the recent reiteration of FY13 earnings.
The firm maintains a Buy rating on Guess?. The $50 price target represents potential upside of about 84 percent from where the stock is currently trading.
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Konik believes Guess?'s North American sales are "about to turn the corner," and also pointed at stabilization in Europe. The analyst specifically noted signs of improvement in Italy. Konik argued higher marketing expenses suggest management is confident in the brand -- a brand which he reassured is "not dead."
The Jefferies analyst said the company's negative earnings revisions are now over, and was encouraged by the recent reiteration of FY13 earnings.
The firm maintains a Buy rating on Guess?. The $50 price target represents potential upside of about 84 percent from where the stock is currently trading.
Visit our Analyst Ratings page to track all the market-moving analyst calls on shares of Guess?.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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