Susquehanna Starts Chico's FAS (CHS) at Positive

Susquehanna initiates coverage on Chico's FAS, Inc. (NYSE: CHS) with a Positive rating and $16 12-month price target, citing the company's multipoint reinvigoration plan.

The firm notes, "We have confidence in management's ability to execute on a multipoint plan to reinvigorate operating performance and leverage its niche brand positioning at Chico's, White House|Black Market (WH|BM), and Soma Intimates. The reinvigoration plan focuses on four strategic priorities: 1) improving Chico's performance; 2) growing WH|BM and Soma Intimates; 3) expanding direct-to-consumer (DTC); and 4) rationalizing the corporate cost structure."

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