Barclays Reiterates an 'Overweight' on AnnTaylor Stores (ANN); Raising Estimates

Barclays reiterates an 'Overweight' on AnnTaylor Stores (NYSE: ANN), PT $36.

Barclays analyst says, "ANN reported 1Q 2011 EPS of $0.51, $0.03 better than our estimate of $0.48. The $0.03 beat to our numbers was operating. Management's 2Q 2011 guidance implies EPS of $0.46 versus our $0.42 estimate. ANN raised its FY 2011 guidance which implies EPS of $1.85 from prior guidance that implied $1.83. We are raising our 2Q 2011 estimate to $0.46 from $0.42, 2011 to $1.86 from $1.83 and 2012 to $2.30 from $2.25."

"...We continue to highlight ANN as the best company in our sector at managing the sourcing cost inflation and ANN reiterated that the company was able to keep average unit cost flat throughout 2011, and they are working on doing the same for spring 2012..."

For more ratings news on AnnTaylor Stores click here and for the rating history of AnnTaylor Stores click here.

Shares of AnnTaylor Stores closed at $29.09 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Canaccord Downgrades York Space Systems (YSS) to Hold, 'Supply chain and contract timing uncertainty'
• Deutsche Bank Downgrades Netskope (NTSK) to Hold on Valuation
• BofA Securities Starts Kanzhun Ltd. (BZ) at Neutral