Barclays Maintains an 'Equalweight' on Saks Inc. (SKS); Cutting Estimates After Q1

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Barclays maintains an 'Equalweight' on Saks Inc. (NYSE: SKS) price target of $12.00.

Analyst, Robert S. Drbul, said, "Given the incremental markdown pressure we are now expecting in 2Q, as well as ongoing strategic investments, we are lowering our 2Q, FY12, and FY13 EPS estimates to $(0.09), $0.40, and $0.55 from $(0.04), $0.45, and $0.60, respectively."

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

Shares of Saks Inc. closed at $10.05 yesterday, with a 52 week range of $7.67-$12.14.

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