Roth Capital Cuts Price Target on Iconix Brand Group (ICON) to $28 Ahead of 2Q15
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Rating Summary:
2 Buy, 9 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 10 | New: 10
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Roth Capital maintained a Buy rating on Iconix Brand (NASDAQ: ICON), and cut the price target to $28.00 (from $32.00), ahead of 2Q15. Analyst Dave King expects ICON to report 2Q15 results during the week of August 3, and that the results should meet estimates.
King commented, "We believe 2Q15 results could meet estimates, helped by recent Peanuts product launches and rebounding trends at Target. While full year guidance remains back-end loaded and looks somewhat optimistic, our understanding of Entertainment licensing royalty rates suggests it may still be attainable through strength in the Peanuts franchise with an upcoming feature film. Shares look undervalued and the near-term risk-reward tradeoff appears more compelling after the sell-off and a recent CFO hire."
For an analyst ratings summary and ratings history on Iconix Brand click here. For more ratings news on Iconix Brand click here.
Shares of Iconix Brand closed at $21.15 yesterday.
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