Nomura Securities Maintains a 'Neutral' on Chico's, Inc. (CHS); Raising PT & Estimates
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Price: $7.59 --0%
Rating Summary:
7 Buy, 20 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
7 Buy, 20 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Nomura Securities maintains a 'Neutral' on Chico's, Inc. (NYSE: CHS) price target raised from $13 to $14.
Analyst, Paul Lejuez, said, "Following a weak 3Q, trends rebounded in 4Q, in part driven by promotions but also driven by an increase in new customers. Sales have remained strong in Feb, a good sign for F12. CHS was a stand-out in the women’s space in 4Q, for which it deserves credit, but the landscape remains challenged. We are increasing our F12E from $0.97 to $1.04 based on higher sales and margins than previously forecast. We are also introducing our F13E of $1.21. We are increasing our TP to $14 to reflect estimate revisions. Our TP represents ~6x our F12E EBITDA approximately in line with the softlines group median (excl lululemon (Nasdaq: LULU) and Michael Kors (Nasdaq: KORS)). The stock does not look expensive but after the run-up today we believe the risk/reward is balanced."
For an analyst ratings summary and ratings history on Chico's, Inc. click here. For more ratings news on Chico's, Inc. click here.
Shares of Chico's, Inc. closed at $14.94 yesterday.
Analyst, Paul Lejuez, said, "Following a weak 3Q, trends rebounded in 4Q, in part driven by promotions but also driven by an increase in new customers. Sales have remained strong in Feb, a good sign for F12. CHS was a stand-out in the women’s space in 4Q, for which it deserves credit, but the landscape remains challenged. We are increasing our F12E from $0.97 to $1.04 based on higher sales and margins than previously forecast. We are also introducing our F13E of $1.21. We are increasing our TP to $14 to reflect estimate revisions. Our TP represents ~6x our F12E EBITDA approximately in line with the softlines group median (excl lululemon (Nasdaq: LULU) and Michael Kors (Nasdaq: KORS)). The stock does not look expensive but after the run-up today we believe the risk/reward is balanced."
For an analyst ratings summary and ratings history on Chico's, Inc. click here. For more ratings news on Chico's, Inc. click here.
Shares of Chico's, Inc. closed at $14.94 yesterday.
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