Jefferies Sees Quiksilver (ZQK) as Deep Value Idea; Adjusts Estimates & PT After Q2 Miss

June 8, 2012 8:07 AM EDT Send to a Friend
Get Alerts ZQK Hot Sheet
Price: $1.75 +1.74%

Rating Summary:
    2 Buy, 13 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 24 | Down: 28 | New: 14
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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.


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