Nomura Securities Maintains a 'Neutral' on Talbots (TLB); Sycamore Partners offers to Buy TLB for $3/Share

Nomura Securities maintains a 'Neutral' on Talbots (NYSE: TLB) price target raised $1 to $3.00.

Nomura analyst, Paul Lejuez, said, "After the market close, private equity firm Sycamore Partners filed a 13D indicating that it had sent a letter to TLB’s board proposing to purchase the company for $3/share. Given TLB’s struggles, we think it should accept. Considering the stock performance over the last few years, we believe $3/share may be a tough pill to swallow; however, given business trends, we believe it is more difficult to be a believer in the turnaround story. With the stock likely to open up significantly on the take-out news, we remain Neutral on the stock. We are raising our TP to $3 to reflect the offer price (absent the deal, we continue to believe the stock is worth $2)."

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

Shares of Talbots closed at $1.56 yesterday.

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