Shares of Guess (GES) Fall 3% on Citi's Downgrade, Revenues and Profits Remain Under Pressure
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Price: $16.81 --0%
Rating Summary:
4 Buy, 9 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
4 Buy, 9 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Shares of Guess (NYSE: GES) are trading down 2.9 percent on the day following a downgrade by Citi who now has a Neutral rating on the stock.
The firm also cut its price target on the company from $47 to $33, while stating Guess continues to face problems in Europe amid macro concerns and on individual products. Citi believes revenue growth will remain to be challenge for management as comps and new store openings continue to be dismal. Analysts at Citi forecast profits from Europe will remain under pressure far into 2012.
The firm also cut its price target on the company from $47 to $33, while stating Guess continues to face problems in Europe amid macro concerns and on individual products. Citi believes revenue growth will remain to be challenge for management as comps and new store openings continue to be dismal. Analysts at Citi forecast profits from Europe will remain under pressure far into 2012.
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