KeyBanc Downgrades Chico's, Inc. (CHS) to Sector Weight

November 15, 2016 7:17 AM EST
Get Alerts CHS Hot Sheet
Price: $13.34 -1.19%

Rating Summary:
    11 Buy, 18 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 11 | Down: 20 | New: 54
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KeyBanc downgraded Chico's, Inc. (NYSE: CHS) from Overweight to Sector Weight and removed its price target. Analyst Edward Yruma said he was stepping to the sidelines following gains in the stock.

"With Chico's up 25% since November 4 (vs. S&P +1%) and up 39% YTD (vs. S&P +5.9%), we are taking the opportunity to move to the sidelines and are downgrading to Sector Weight. We stuck with CHS with the thesis that new CEO Shelly Broader would drive both operational efficiency and restore merchandising discipline. We are more confident in her ability to execute these changes, but also believe that they are increasingly priced into the stock at current levels. Within retail, we favor JWN, GPS, and QVCA," said Yruma.

For an analyst ratings summary and ratings history on Chico's, Inc. click here. For more ratings news on Chico's, Inc. click here.

Shares of Chico's, Inc. closed at $14.79 yesterday.

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