Piper Jaffray's 'Taking Stock With Teens' Survey Shows Subtle Improvements in Retail
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Piper Jaffray issued the results of its semiannual "Taking Stock With Teens" survey this afternoon, and, consequently, the firm has made numerous upgrades/downgrades/price target revisions. The research project, which surveys kids and their parents across the U.S., aims at spotting the leading brands within the retail and apparel sectors.
Overall, the firm said it was encouraged by improvements and "the early stages of a discretionary recovery and fashion replenishment cycle with a low single-digit year over year increase in fashion spending..." Among the numerous takeaways from the survey, Piper made the following changes:
- upgraded Zumiez (Nasdaq: ZUMZ) from Underweight to Neutral, price target raised from $13 to $15
- upgraded Estee Lauder (NYSE: EL) from Neutral to Overweight, price target raised from $38 to $55
- upgraded Bare Escentuals (Nasdaq: BARE) from Neutral to Overweight, price target raised from $8 to $14
- upgraded Under Armour (NYSE: UA) from Underweight to Neutral, price target from $19 to $27
- downgraded Aeropostale (NYSE: ARO) from Neutral to Underweight, price target from $40 to $43
- downgraded Wet Seal (Nasdaq: WTSLA) from Overweight to Neutral, price target from $5 to $4
- raised Kohl's (NYSE: KSS) price target from $57 to $61, maintains Overweight
- raised Volcom (Nasdaq: VLCM) price target from $12 to $17, maintains Neutral
- raised American Eagle (NYSE: AEO) price target from $17 to $19, maintains Overweight
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real estate
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