Lazard Sees Takeout of Talbots (TLB) 'Likely,' Looking for Deal in $7-$11/Share Range

Shares of The Talbots (NYSE: TLB) are continuing higher Monday following a more than 18 percent move higher on Friday amid reports Goldengate Capital and TPG were among the firms weighing a bid for the company. The stock last traded at $3.28, up 2.8 percent for the session.

In a research note from this morning, Lazard Capital's Jennifer Davis calls a buyout of the retailer "likely" and believes the already-rejected $3 per share bid from Sycamore is "too low." Instead, Davis places an acceptable range at $7 to $11 per share. Even the low end of this range would suggest a jaw-dropping 113 percent from where the stock is currently trading.

Lazard maintains a Neutral rating on shares of Talbots despite the very lofty takeover range.

To track all the market-moving analyst calls on shares of Talbots, visit our Analyst Ratings page.

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