Jefferies Reiterates a 'Conviction Buy' on Guess (GES); Stock Buyback A Positive Sign
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Price: $29.69 --0%
Rating Summary:
2 Buy, 7 Hold, 4 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
2 Buy, 7 Hold, 4 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade GES Now!
Jefferies reiterates a 'Conviction Buy' on Guess (NYSE: GES) price target of $50.00.
Analyst, Randal J. Konik said, "We view this announcement very positively as it shows that GES has recently started buying back its stock in a meaningful way. The last time GES bought back stock was in 4Q (3.2M shares) and prior to that the company had not bought back stock for over a year. We like this return of cash to shareholders especially given the stock is at very attractive valuation levels. Further, we believe the accelerated buyback signals management's belief in the long term growth story here with the European business stabilizing and the North American business showing positive signals."
Konik also said shares have meaningful upside and are currently trading among the lowest multiples in their coverage universe.
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 $28.30 yesterday, with a 52 week range of $24.23-$44.89.
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Analyst, Randal J. Konik said, "We view this announcement very positively as it shows that GES has recently started buying back its stock in a meaningful way. The last time GES bought back stock was in 4Q (3.2M shares) and prior to that the company had not bought back stock for over a year. We like this return of cash to shareholders especially given the stock is at very attractive valuation levels. Further, we believe the accelerated buyback signals management's belief in the long term growth story here with the European business stabilizing and the North American business showing positive signals."
Konik also said shares have meaningful upside and are currently trading among the lowest multiples in their coverage universe.
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 $28.30 yesterday, with a 52 week range of $24.23-$44.89.
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