Brean Murray Carret & Co. Upgrades New York & Co (NWY) to Buy; Sifting Through The Rubble

Brean Murray Carret & Co. upgraded New York & Co (NYSE: NWY) from Hold to Buy with a price target of $6.00.

Brean analyst says, "We are raising our rating and tweaking our FY13 EPS upward to $0.33 (from $0.25) after the recent carnage has lowered NWY to levels where we think the risk/reward is impressive; further we believe there are company specific drivers for this turnaround play which offset a potential weakening economy...After three years of dismal, self-inflicted harm, NWY is back on the recovery track under CEO Greg Scott."

For more ratings news on New York & Co click here and for the rating history of New York & Co click here.

Shares of New York & Co closed at $5.08 yesterday.

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