Jefferies Upgrades Quiksilver (ZQK) to Buy, Price Target $5
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Price: $7.73 +0.13%
Rating Summary:
3 Buy, 10 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
3 Buy, 10 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade ZQK Now!
Jefferies upgraded shares of Quiksilver (NYSE: ZQK) to a Buy rating from their previous rating of Hold. The firm reports that the company's restored balance sheet, renewed strategic focus, leading portfolio of global lifestyle brands and leverageable sales re-acceleration story makes for a strong coming year.
Jefferies is raising their price target to $5 from $4.80; and their FY11 and FY12 EPS estimates are now $0.30 and $0.44 from $0.28 and $0.35. The new estimates reflect the current trends in the market and the company's future outlook.
The firm reports that it has been a positive year for action sports companies as all trends are pointed up. Jefferies is anticipating that Roxy will have a strong recovery this year.
ZQK is finnally back on the offense after a few tough years of rebuilding their balance sheet after they dropped Rossignol. Also since only 40% of their sales come from America, the company is positioned to gain market share in many areas where competition isn't build up that strongly yet, the company has had a 20% YTD correction.
For more ratings news on Quiksilver click here and for the rating history of Quiksilver click here.
Shares of Quiksilver closed at $4.13 yesterday, with a 52 week range of $2.93-$6.09.
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Jefferies is raising their price target to $5 from $4.80; and their FY11 and FY12 EPS estimates are now $0.30 and $0.44 from $0.28 and $0.35. The new estimates reflect the current trends in the market and the company's future outlook.
The firm reports that it has been a positive year for action sports companies as all trends are pointed up. Jefferies is anticipating that Roxy will have a strong recovery this year.
ZQK is finnally back on the offense after a few tough years of rebuilding their balance sheet after they dropped Rossignol. Also since only 40% of their sales come from America, the company is positioned to gain market share in many areas where competition isn't build up that strongly yet, the company has had a 20% YTD correction.
For more ratings news on Quiksilver click here and for the rating history of Quiksilver click here.
Shares of Quiksilver closed at $4.13 yesterday, with a 52 week range of $2.93-$6.09.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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