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UBS Maintains a 'Buy' on Express Inc. (EXPR); Attractive Risk/Reward for Longer-Term Investors

August 23, 2012 11:23 AM EDT Send to a Friend
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Price: $16.75 +14.80%

Rating Summary:
    7 Buy, 9 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 13 | Down: 13 | New: 28
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UBS maintains a 'Buy' on Express Inc. (NYSE: EXPR) price target of $19.00 (from $24.00).

Analyst, Roxanne Meyer, said, "Q2 was hurt by the first negative store comp since 3Q09, and was boosted by a ~$0.03 benefit from a shift in marketing spend into 3Q (would have missed Street otherwise). In 3Q, store comps (and gross margin) are expected to remain under pressure as EXPR works through its first material fashion miss, calling into question the strength of its testing strategy and its ability to maintain share in a competitive landscape. While testing is not fool-proof, we view EXPR as best positioned to rebound (and faster); for patient investors, we think shares are attractive here."

FY13 EPS Estimate lowered from $1.82 to $1.72 and FY14 from $2.02 to $1.94.

For an analyst ratings summary and ratings history on Express Inc. click here. For more ratings news on Express Inc. click here.

Shares of Express Inc. closed at $15.03 yesterday.




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