Janney Capital Upgrades Chico's, Inc. (CHS) to Buy

Janney Capital upgraded Chico's, Inc. (NYSE: CHS) from Neutral to Buy with a price target of $19.00 (from $14.00).

Analyst Adrienne Yih-Tennant comments, "We are upgrading shares of CHS to Buy based on: 1) commitment to inventory and SGA discipline that should become more evident in '15, 2) recovery of WHBM brand, which our proprietary checks suggest are driving full-price positive comps with less promotional activity and discounting, and 3) what we believe will be an improved macro consumer backdrop for the Missy consumer in '15. While we believe that the environment will remain highly promotional, we believe sector inventory discipline entering '15 will provide some stability to gross margins."

For an analyst ratings summary and ratings history on Chico's, Inc. click here. For more ratings news on Chico's, Inc. click here.

Shares of Chico's, Inc. closed at $16.60 yesterday.

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