Wedbush Morgan Maintains 'Neutral' Rating on Talbots (TLB), Sees Potentially Optimistic 2nd Half of '08
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Wedbush Morgan maintains 'Neutral' rating on Talbots (NYSE: TLB), but increases price target from $8 to $10.
Wedbush analyst says, "reiterates FY08 guidance on potentially optimistic 2nd half ('08) margin improvement...While we are encouraged by early reads on new Fall merchandise and initiatives to generate cost savings, we believe management’s F08 guidance assumes a meaningful H2 turnaround that could prove optimistic given the retail environment (particularly given H1 results). As such, we continue to look for increased visibility of rejuvenated consumer traffic and reaction to revamped J. Jill and Talbots merchandise before becoming more aggressive with our recommendation."
The Talbots, Inc. is a specialty retailer and direct marketer of women’s apparel, shoes, and accessories.
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