Brean Murray Downgrades Aeropostale (ARO) to Sell
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Brean Murray downgrades Aeropostale (NYSE: ARO) from Hold to Sell. Price target $14.
Brean analyst says, "Although we believe the company is winning the battle for the teen shopper, we believe the overall "war" is dragging down upside and crimping margins for the company. Combined with tougher comparisons, incremental costs from the new kids chain rollout and some measure of Street optimism for 4Q08, we believe expectations remain too high."
Aeropostale, Inc. is a mall-based specialty retailer of casual apparel and accessories.
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