Piper Jaffray Reiterates Outperform on Express (EXPR) After Traveling with Management

Piper Jaffray reiterated an Overweight rating and $28.00 price target on Express Inc. (NYSE: EXPR) after traveling with management.

Analyst Neely Tamminga commented, "We reiterate our OW on EXPR on the heels of traveling with Express mgmt represented by President & CEO Mr. David Kornberg, CFO & Treasurer Mr. Perry Pericleous, and VP of IR Ms. Marisa Jacobs. We continue to hear the drum beat of discipline and future growth plans from Express across multiple category expansions, new tools to drive insights, and rationalization of real estate (closing full-price stores and adding outlets). All told, the company is on a path to DD% operating margins (we estimate 10%-12%+) vs. what we project will be a 9.3% rate this year. Express is doing a solid job driving on-trend fashion while also maintaining disciplines to drive profitable growth. As such, we recommend investors take a fresh look at EXPR in smid-cap growth as a story that can drive +MSD% top-line and +DD% bottom-line while the backdrop for apparel retailing improves."

For an analyst ratings summary and ratings history on Express Inc. click here. For more ratings news on Express Inc. click here.

Shares of Express Inc. closed at $19.84 yesterday.

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