AnnTaylor (ANN) Shares Rallying as Analyst Sees Attractive Entry Point, Upgrades to Overweight
AnnTaylor (NYSE: ANN) shares have jumped about 4.5% higher today as we have analyst from Thomas Weisel lifting her investment rating on the stock from Equal Weight to Overweight. The stock most recently traded at $14.24.
The analyst also raised her price target on the retailer from $16 to $18, saying that Friday's 1.3% sell-off following Q3 earnings has created an attractive entry point for investors. The analyst liked AnnTaylor's better-than-expected gross margins level and EPS that came in sharply above the Street's estimates.
Thomas Weisel's new price target represents potential price appreciation of more than 26% from where the stock is at today.
Click here to see all the market-moving upgrades/downgrades on shares of AnnTaylor.
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