UBS Resumes Coverage on Express Inc. (EXPR) at Buy; Momentum in Sales and Margins

UBS resumes coverage on Express Inc. (NYSE: EXPR) with a Buy. PT $24.00.

UBS analyst says, "We view EXPR as an attractive EPS growth story with opportunity for continued sales and margin gains from its competitive positioning, go-to-market testing strategy (seeing strong response to higher forward-season merchandise levels), growth of its higher-margin accessories & e-commerce businesses, and incremental marketing investment."

"Our estimates: Q3 $0.35, ‘11 $1.61. Our $24 price target is based on 13x our ‘12 estimate of $1.81. Our Black Skies analysis derives a downside valuation of $11.

For more ratings news on Express Inc. click here and for the rating history of Express Inc. click here.

Shares of Express Inc. closed at $19.04 yesterday.

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