UPDATE: Oppenheimer Upgrades Body Central Corp. (BODY) to Outperform, Stock "Too Cheap"

September 24, 2012 6:44 AM EDT Send to a Friend
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Price: $0.18 +12.50%

Rating Summary:
    1 Buy, 5 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 15 | Down: 38 | New: 13
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(Updated - September 24, 2012 12:06 PM EDT)

Shares of Body Central Corp. (NASDAQ: BODY) are sharply higher Monday after Oppenheimer upgraded the stock from Perform to Outperform with an $19 price target, saying shares are "too cheap to ignore."

The firm said risk/reward is extremely compelling at current levels and the worst is over.

"The worst appears to be behind BODY with the turnaround gaining traction ahead of Street expectations. By our calculations, 3Q guidance appears achievable and there’s upside to 4Q consensus," said Pamela Quintiliano. "Stores have successfully reverted to proven strategies following recent blunders and initiatives in place to support LT growth."

The firm raised 4QE/F12E/F13E EPS estimates to above-consensus $0.28/$0.89/$1.10.

For an analyst ratings summary and ratings history on Body Central Corp. click here. For more ratings news on Body Central Corp. click here.

Shares of Body Central Corp. closed at $10.25 yesterday.

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