Jefferies Raises Price Target on Guess? (GES) to $17 Following 2Q Beat
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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."
Shares of Guess closed at $14.90 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesJefferies & Co, Earnings, Randal Konik
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