Piper Jaffray Reiterates a 'Neutral' Rating on Zumiez (ZUMZ); Positive Bias
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Piper Jaffray & Co. reiterates a 'Neutral' rating on Zumiez (Nasdaq: ZUMZ), raises price target from $11 to $15.
Piper analyst says, "Thesis unchanged; balanced risk-reward: We are reiterating our Neutral rating but indicating a more positive bias toward ZUMZ shares. Near-term performance is likely to remain volatile but we think moderation in comp sales declines provides a stable sales base from which to restart square footage growth activities in late 2010 and 2011. Longer-term oriented investors can begin to build positions for growth potential."
To see all the upgrades/downgrades on shares of ZUMZ, visit our Analyst Ratings page.
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