Janney Montgomery Scott Maintains a 'Buy' on bebe stores (BEBE) as Downside Mitigated; Lowering Estimates
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Price: $5.32 -0.75%
Rating Summary:
2 Buy, 4 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
2 Buy, 4 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade BEBE Now!
Janney Montgomery Scott maintains a 'Buy' on bebe stores, inc. (NASDAQ: BEBE) price target of $7.00 (from $9.00).
Analyst, Adrienne Tennant, said, "BEBE reported FY4Q12 comp miss of -2.5%, below Retail Metrics consensus of +1.8% and management guidance in the positive low-single digit range; we had forecast a flat comp as channel checks had suggested top line weakness. Retail sales from continuing operations decreased -2.5% in FY4Q12 to $119.1 million...We maintain a BUY on bebe shares, as we believe the downside risk is mitigated by the approximately $3.00/share of cash on the balance sheet, and any positive news or pick up in sales momentum could cause a pop in the stock. We believe the company could potentially use some of its cash, as it has in the past, for a potential one-time dividend."
FY12 EPS estimate cut from $0.15 to $0.14 and FY13 from $0.22 to $0.20.
For an analyst ratings summary and ratings history on bebe stores, inc. click here. For more ratings news on bebe stores, inc. click here.
Shares of bebe stores, inc. closed at $5.69 yesterday, with a 52 week range of $5.35-$9.58.
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Analyst, Adrienne Tennant, said, "BEBE reported FY4Q12 comp miss of -2.5%, below Retail Metrics consensus of +1.8% and management guidance in the positive low-single digit range; we had forecast a flat comp as channel checks had suggested top line weakness. Retail sales from continuing operations decreased -2.5% in FY4Q12 to $119.1 million...We maintain a BUY on bebe shares, as we believe the downside risk is mitigated by the approximately $3.00/share of cash on the balance sheet, and any positive news or pick up in sales momentum could cause a pop in the stock. We believe the company could potentially use some of its cash, as it has in the past, for a potential one-time dividend."
FY12 EPS estimate cut from $0.15 to $0.14 and FY13 from $0.22 to $0.20.
For an analyst ratings summary and ratings history on bebe stores, inc. click here. For more ratings news on bebe stores, inc. click here.
Shares of bebe stores, inc. closed at $5.69 yesterday, with a 52 week range of $5.35-$9.58.
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