Mizuho Securities Remains Bullish on Express (EXPR) Ahead of ICR Conference

Mizuho Securities reiterated a Buy rating and $13.00 price target on Express Inc. (NYSE: EXPR) ahead of the company's ICR Conference presentation. Management affirmed 4Q EPS guide of $0.26-0.30, relative to consensus’ $0.29 and our $0.26. Comparable store sales are expected to be ~(13)% vs. +3.9% LY.

Analyst Betty Chen commented, "We are encouraged to see EXPR reiterate 4Q/FY16 guide given the tough retail environment during the Holiday season. We believe eCommerce continues to outperform the overall business given the struggles with footfall reported by many retailers. As we look forward to FY17, we see a favorable set up for EXPR given: 1) easier compares; 2) more appropriate choice and SKU counts to convey fashion vignettes; and 3) multiple IT initiatives to improve inventory productivity and drive margins. Thus, and given the company’s discounted valuation, we are maintaining our Buy rating."

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 $10.31 yesterday.

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