Piper Jaffray Raises Price Target on Chicos FAS (CHS) to $14 Following 2Q Beat

August 31, 2016 7:47 AM EDT
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Price: $11.96 +0.59%

Rating Summary:
    11 Buy, 17 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 14 | Down: 11 | New: 8
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Piper Jaffray reiterated an Overweight rating on Chico's, Inc. (NYSE: CHS), and raised the price target to $14.00 (from $13.00), following the company's 2Q earnings report. CHS reported EPS of $0.25 vs. the consensus estimate of $0.22. Comps came in at -3.1% compared to the consensus of -3.9%.

Analyst Neely Tamminga commented, "We are adjusting our estimates on CHS on the heels of their FQ2 release in which comps and EPS came in above guidance. The results were released in the evening on 8/30/16 and the investor call will be held tomorrow morning at 8:30am ET (1-877-883-0383, code: 8235135). Longer-term the company is on a path to return to +10%-plus EBIT margins from last year's 6.8% driven first by discipline in inventory management, cost savings and real estate optimization, followed by category extensions, growth in Soma, digital commerce and international expansion."

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 $11.30 yesterday.

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