Jefferies Sees Quiksilver (ZQK) as Deep Value Idea; Adjusts Estimates & PT After Q2 Miss
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Price: $6.46 --0%
Rating Summary:
3 Buy, 10 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 13 | New: 7
Rating Summary:
3 Buy, 10 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 13 | New: 7
Trade ZQK Now!
Jefferies maintains a 'Buy' on Quiksilver (NYSE: ZQK) price target of $3.50 (from $4.00).
Analyst, Taposh Bari, said, "ZQK missed 2Q, as we expected, but trends seem to be holding up fairly well despite a major European overhang. Continue to feel that fundamentals inflect positively in 2H12 as sales accelerate, GM% stabilize and SG&A leverage is achieved. The combination of attractive valuation (stock at lows) and accelerating EPS growth makes us comfortable recommending ZQK as a deep value idea here."
Raises FY12 EPS by $0.01 to $0.12 and FY13 lowers by $0.04 to $0.29.
For an analyst ratings summary and ratings history on Quiksilver click here. For more ratings news on Quiksilver click here.
Shares of Quiksilver closed at $2.44 yesterday, with a 52 week range of $2.33-$5.58.
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Analyst, Taposh Bari, said, "ZQK missed 2Q, as we expected, but trends seem to be holding up fairly well despite a major European overhang. Continue to feel that fundamentals inflect positively in 2H12 as sales accelerate, GM% stabilize and SG&A leverage is achieved. The combination of attractive valuation (stock at lows) and accelerating EPS growth makes us comfortable recommending ZQK as a deep value idea here."
Raises FY12 EPS by $0.01 to $0.12 and FY13 lowers by $0.04 to $0.29.
For an analyst ratings summary and ratings history on Quiksilver click here. For more ratings news on Quiksilver click here.
Shares of Quiksilver closed at $2.44 yesterday, with a 52 week range of $2.33-$5.58.
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