Jefferies Cuts Price Target on Guess? (GES) to $18 Following 1Q Miss
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Rating Summary:
4 Buy, 9 Hold, 5 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 11 | Down: 7 | New: 11
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Jefferies maintained a Hold rating on Guess (NYSE: GES), and cut the price target to $18.00 (from $20.00), following the company's 1Q earnings report. Results missed expectations, driven by a weaker top-line, including NA comps of (4%) versus the Street of (1.6%). However, Europe was a bright spot, with comps increasing in the mid-teens, accelerating from HSD in 4Q.
Analyst Randal Konik commented, "GES reported a 1Q miss, led by a weaker top-line, as softness across most regions was only partially offset by ongoing improvement in Europe. While we continue to see significant LT opportunity, FY'17 should be a reset year for GES and ultimately, we need to see signs of top-line improvement for significant margin expansion to materialize. Maintain Hold, PT to $18."
For an analyst ratings summary and ratings history on Guess click here. For more ratings news on Guess click here.
Shares of Guess closed at $16.45 yesterday.
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