Piper Jaffray Upgrades Zumiez, Inc. (ZUMZ) to Overweight
- S&P, Dow rise on health stocks; Nasdaq weighed by Comcast
- Unusual 11 Mid-Day Movers 10/27: (PCMI) (OCN) (TTMI) Higher; (CYH) (RWLK) (AMFW) Lower
- Twitter (TWTR) Tops Q3 EPS by 4c; Announces Restructuring, Workforce Reduction
- Qualcomm (QCOM) to Acquire NXP Semi (NXPI) in $47B Deal
- Tesla (TSLA) Posts Q3 adj.-EPS of 71c
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
Piper Jaffray upgraded Zumiez, Inc. (NASDAQ: ZUMZ) from Neutral to Overweight with a price target of $28.00.
Analyst Neely Tamminga commented, "We are upgrading our investment rating on ZUMZ from Neutral to Overweight because proprietary survey data is pointing to strength for Zumiez and the brands it sells. Given the significant array of brands carried and sold by Zumiez, we created a Zumiez Brand Index to better gauge the mindshare in our data. Often these brands are limited in their distribution and nearly exclusive with Zumiez, so we believe a vote in one of the Zumiez-carried brands is a de facto vote for Zumiez. This fall, we note that among the upper-income teens in our survey, the Zumiez Brand Index carried 5.1% of the overall vote—up from 4.1% a year ago. When looking at the upper-income males, the Zumiez Brand Index accounted for 7.9% of the mindshare, up from 6.7% a year ago, and comparable to brands like Ralph Lauren and American Eagle in our top ten survey."
Shares of Zumiez, Inc. closed at $22.47 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Stifel Upgrades Highwoods Properties Inc. (HIW) to Buy
- Drexel Hamilton Raises Price Target on VMware (VMW) Following 3Q
- Rosenblatt Upgrades NETGEAR (NTGR) to Buy
Create E-mail Alert Related CategoriesAnalyst Comments, Hot Upgrades, Upgrades
Related EntitiesPiper Jaffray, 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!