Guess (GES) PT, Estimates Cut at Jefferies Following Miss on Weak NA

Jefferies analyst Randal Konik reiterated a Hold rating and cut his price target on Guess (NYSE: GES) to $15.00 (from $17.00) following the company's Q3 miss.

commented, "GES reported a 3Q miss, driven largely by weakness in the Americas, offset by progress in Europe. While we think mgmt is taking the necessary steps for the LT, we look for signs of N. America improving (including progress on the inventory overhang) and stabilization in licensing to become more constructive NT. Maintain Hold, PT to $15."

The firm cut Q4 EPS from $0.66 to $0.46, FY 2016 EPS from $0.72 to $0.48 and FY 2017 EPS from $0.90 to $0.76.

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

Shares of Guess closed at $15.32 yesterday.

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