Piper Jaffray Raises Price Target on Chicos FAS (CHS) to $14 Following 2Q Beat
- Top 10 News for 10/17 - 10/21: Merger Rumors Abound; CEOs Depart; Tesla Kicks Autopilot Up A Notch
- Wall Street ends little changed; Microsoft hits record
- AT&T (T) in Advanced Talks to Acquire Time Warner (TWX) - DJ
- Rockwell Automation (ROK) Said to Attract Takeover Interest from Schneider Electric - Source
- British American Tobacco Offers to Acquire Remaining Shares of Reynolds American (RAI) for $56.50/Share
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
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."
Shares of Chico's, Inc. closed at $11.30 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Imperial Capital Raises Price Target on Proofpoint (PFPT) Following Strong 3Q Results
- Maxim Integrated (MXIM) PT Bumped to $45 at Jefferies Following In-Line Results on Note 7 Impact
- Wedbush Reiterates Outperform on Pool Corp. (POOL) Following 3Q Report
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesPiper Jaffray, Earnings, Neely Tamminga
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!