Wedbush Raises Price Target on Francesca's (FRAN) Following 3Q Report
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Rating Summary:
9 Buy, 13 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 9 | Down: 9 | New: 42
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Wedbush reiterated a Neutral rating on Francesca's Holdings (NASDAQ: FRAN), and raised the price target to $20.00 (from $16.00), following the company's 3Q earnings report. FRAN reported 3Q EPS of $0.26 on +7% SSS, well above consensus of $0.18 on SSS +5% and guidance of $0.16-$0.19. 4Q EPS was guided to $0.33-$0.37 on SSS down LSD to up LSD versus consensus expectations for EPS of $0.38 on SSS down 1%.
Analyst Morry Brown commented, "4Q guidance calls for flattish SSS (at the mid-point), a solid guide considering LY's challenging +11% comparison, with the top end modestly above the company's previous internal plan. That said, we believe the guidance leaves less room for upside versus 3Q given (1) QTD promotions have already crept higher to hold sales at current levels (with merchandise margins guided down), (2) FRAN was one of the few companies to benefit from warm weather LY, given few sweaters and outerwear and (3) peer promotions are also tracking higher YOY based on recent channel checks. We believe current valuation adequately captures current fundamentals and remain NEUTRAL."
For an analyst ratings summary and ratings history on Francesca\'s Holdings click here. For more ratings news on Francesca\'s Holdings click here.
Shares of Francesca\'s Holdings closed at $20.01 yesterday.
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