Nomura Securities Reiterates a 'Buy' on AnnTaylor (ANN) Following Q2 Results; Positive Outlook Makes Risk/Reward Attractive

Nomura Securities reiterates a 'Buy' on AnnTaylor Stores (NYSE: ANN) price target of $36.00.

Nomura analyst, Paul Lejuez, says, "The quarter was strong and not close to the margin debacle many had feared. We believe both Ann Taylor Stores (ATS) and Loft are well positioned for 2H from an inventory and product perspective. Our F11E EPS of $1.92 remains unchanged. Implied guidance is ~$1.88- $1.90 and cons is $1.81. We assume 3Q EPS of $0.60 versus implied guidance of ~$0.57-$0.58. The stock trades at 3x our F12E EBITDA and we believe our F12 forecasts are realistic, making the risk reward attractive."

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 $21.70 yesterday.

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