Brean Murray Raises Price Target On bebe stores (BEBE)
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Brean Murray is raising its estimates and price target on bebe stores (Nasdaq: BEBE) after bebe's Q3 exceeded Brean Murray's estimates and likes where the company is going with its strategy.
Brean Murray thinks the strategy will allow bebe stores to break free of the seeming never ending chain of material comp and margin declines which have plagued bebe over the last few years.
Brean's price target of $10 represents 20x our FY10 EPS estimate of $0.30 plus approximately $4.00 per share in cash on the balance sheet.
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