Jefferies Raises Price Target on Guess? (GES) to $17 Following 2Q Beat

August 25, 2016 7:54 AM EDT
Get Alerts GES Hot Sheet
Price: $13.87 -0.57%

Rating Summary:
    4 Buy, 12 Hold, 4 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 14 | Down: 11 | New: 8
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Jefferies reiterated a Hold rating on Guess (NYSE: GES), and raised the price target to $17.00 (from $16.00), following the company's 2Q earnings report. GES' EPS beat was driven by a top-line improvement in Europe and solid expense control.

Analyst Randal Konik commented, "GES reported a 2Q beat, driven by strength in Europe and solid cost control. While FY'17 has been designated a 'reset year', we see signs that CEO Victor Herrero's plans are starting to take hold, despite multiple external challenges in the environment. Further, we see the improvement in Europe as a positive sign that int'l weakness may be bottoming for the group. Maintain Hold, PT to $17."

For an analyst ratings summary and ratings history on Guess click here. For more ratings news on Guess click here.

Shares of Guess closed at $14.90 yesterday.

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