UBS Says Express (EXPR) Turning Corner

November 29, 2012 1:48 PM EST
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Price: $10.42 -0.95%

Rating Summary:
    8 Buy, 10 Hold, 3 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 18 | Down: 17 | New: 10
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After a record Black Friday and overall strong Holiday start, UBS thinks Express (NYSE: EXPR) is turning a corner.

"We believe EXPR is taking the appropriate steps to right the ship under new President David Komberg," said analysts.

These steps include more balanced and clear pricing, deeper investment in key, well-tested fashion items, earlier recognition of trends, more seasonal products, and increased customer prospecting.

"With 3Q inventory better aligned, Black Friday trends strong, and early spring already testing well, we see EXPR turning the corner, and reiterate our Buy rating," said UBS.

UBS raised its price target on Express Inc. (NYSE: EXPR) to $17.00 (from $16.00).

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 $14.15 yesterday.

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