Brean Murray Upgrades Aeropostale (ARO) to Buy; More Opportune Entry Point
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Brean Murray upgrades Aeropostale (NYSE: ARO) from Hold to Buy. Price target $27
Brean analyst says, "While we have been waiting for a more opportune entry point, it has become increasingly obvious to us that the company's business model remains one of the few winners in the current retailing environment. Further, with what should be solid February comps on tap for Thursday and what we believe will be a very positive 4QFY09 earnings call next week, we believe the time to try and pick the ideal buying time has passed. We believe Aeropostale has continued to drive solid results for spring, and we are once again seeing the company utilize its discounting-driven business model to reduce overall price cuts. Further, with Jimmy now closed and forgotten and with the rollout of the new kids concept nearing, we believe investors will once again begin to factor in the potential that Aeropostale has another material unit growth concept, which could drive further multiple expansion. As such, with key catalysts on the horizon and FY2010 EPS upside beckoning, we are raising our rating to Buy."
Aeropostale, Inc. is a mall-based specialty retailer of casual apparel and accessories. The Company design, market and sell brand of merchandise targeting 14 to 17 year-old young women and young men.
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