Jefferies Lowers Numbers On Guess (GES) After Q3 Results

Jefferies lowered estimates and its price target Guess (NYSE: GES) from $60 to $55 following Q3 results but kept its Buy rating.

The firm comments, "GES posted 3Q EPS of 71c, slightly below JEF/Cons of 75c/73c and lowered its full year outlook due to difficult macro trends, esp. in Europe. We think mgmt is being adequately cautious, and that the stock already reflects lowered expectations. On the other hand, US biz continues to stabilize with improved women's biz and higher profitability. With limited downside from current levels, we see risk/reward as favorable. Reiterate Buy."

Q4 EPS was cut from $1.33 to $1.09, FY11 cut from $3.40 to $3.10 and FY12 cut from $4.00 to $3.75.

For an analyst ratings summary and ratings history on Guess click here. For more ratings news on Guess click here.

Shares of Guess closed at $28.12 yesterday.

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