Auriga Reiterates a 'Buy' on Quiksilver (ZQK); Expect Solid Q1 and 2H Growth

Auriga reiterates a 'Buy' on Quiksilver (NYSE: ZQK) price target raised $1 to $6.

Auriga analyst said, "We are maintaining our revenue and EBITDA assumption for ZQK's fiscal Q1 (Jan). We believe ZQK benefitted from a solid product assortment and success in Europe despite macroeconomic weakness. We expect double digit revenue and EBITDA growth to resume during 2H as a back to school strategy for DC and a year round approach to selling should disproportionately benefit FQ3-FQ4. We are raising our PT to assume a conservative 6.1x 2013 EV/EBITDA multiple. Currently, competitor BBG-AU is fighting to stay a public company with a third party offer to acquire the company for approximately 7.2x 2013 EV/EBITDA."

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

Shares of Quiksilver closed at $4.55 yesterday.

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