Barclays on U.S. Retail Softlines: Raising Price Target on LTD and Lowering Targets on RUE and ZUMZ
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Price: $65.09 -0.57%
Rating Summary:
6 Buy, 13 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 5 | New: 25
Rating Summary:
6 Buy, 13 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 5 | New: 25
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Barclays on U.S. Retail Softlines: Raising Price Target on LTD and Lowering Targets on RUE and ZUMZ
Barclays analyst, Stacy Pak, said, "We are raising our price target on Limited (NYSE: LTD) and lowering our price targets on rue21 (NYSE: RUE) and Zumiez (Nasdaq: ZUMZ). While we believe many apparel retailers benefitted from the cooler weather in September, we remain concerned about the upcoming lull after back to school and before holiday."
"We are raising our price target on LTD to $40 from $37 and maintaining our Equal Weight rating. We expect LTD to continue to post strong comps in spite of tough compares and we think the international expansion strategy has legs."
"We are lowering our price target on RUE to $25 from $29 and maintaining our Equal Weight rating. We believe back to school has remained difficult after a slow start, and that while management has indicated they do not need to raise prices, AUR increases over the past few quarters have been in the high single digits including a +9% for Q2 and the company's price points have not been very compelling."
"We are lowering our price target on ZUMZ to $17 from $19 and maintaining
our Underweight rating. While ZUMZ likely benefitted from the cooler weather
recently along with the group, the business has shown signs of inconsistency since May. Traffic has been negative over the past few months, which we think could be driven by the company's higher pricing strategy."
Barclays analyst, Stacy Pak, said, "We are raising our price target on Limited (NYSE: LTD) and lowering our price targets on rue21 (NYSE: RUE) and Zumiez (Nasdaq: ZUMZ). While we believe many apparel retailers benefitted from the cooler weather in September, we remain concerned about the upcoming lull after back to school and before holiday."
"We are raising our price target on LTD to $40 from $37 and maintaining our Equal Weight rating. We expect LTD to continue to post strong comps in spite of tough compares and we think the international expansion strategy has legs."
"We are lowering our price target on RUE to $25 from $29 and maintaining our Equal Weight rating. We believe back to school has remained difficult after a slow start, and that while management has indicated they do not need to raise prices, AUR increases over the past few quarters have been in the high single digits including a +9% for Q2 and the company's price points have not been very compelling."
"We are lowering our price target on ZUMZ to $17 from $19 and maintaining
our Underweight rating. While ZUMZ likely benefitted from the cooler weather
recently along with the group, the business has shown signs of inconsistency since May. Traffic has been negative over the past few months, which we think could be driven by the company's higher pricing strategy."
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