Citi Upgrades Tween Brands (TWB) to Hold
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Price: $10.45 --0%
Rating Summary:
0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 21 | Down: 43 | New: 13
Rating Summary:
0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 21 | Down: 43 | New: 13
Trade TWB Now!
Citi upgrades Tween Brands Inc (NYSE: TWB) from Sell to Hold. Price target $31
Citi analyst says, "We believe deteriorating fundamentals are offset by a share repurchase program and compelling valuation. We caution on previously high inventory levels, casual bottoms/denim weakness, greater macro concerns, and too optimistic +MSD 3Q07 comps guidance. Additionally, we calculate TWB guided 2&3Q07 down ~30c; however, our analysis indicates the calendar shift cannot explain shortfall, contrary to mgmt's assertion on the 2Q07 earnings call."
Citi analyst says, "We believe deteriorating fundamentals are offset by a share repurchase program and compelling valuation. We caution on previously high inventory levels, casual bottoms/denim weakness, greater macro concerns, and too optimistic +MSD 3Q07 comps guidance. Additionally, we calculate TWB guided 2&3Q07 down ~30c; however, our analysis indicates the calendar shift cannot explain shortfall, contrary to mgmt's assertion on the 2Q07 earnings call."
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