Brean Murray Carret & Co. reiterates a 'Buy' on Guess (GES); Last Bump Before Turn
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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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Brean Murray Carret & Co. reiterates a 'Buy' on Guess (NYSE: GES) price target raised from $39 to $50.
Brean analyst says, "We believe, after a tough FY12, that GUESS? is poised to shine in FY13, especially after a 1Q which will be dragged down by one time strategy shifts. We believe, with the domestic unit increasingly looking like a material turnaround candidate, and the company’s strong denim position marking them as a material beneficiary from the decline in cotton prices, that GUESS? has the firepower to offset what should be a lackluster year in Europe and beat tepid expectations. As such, we believe GUESS? remains one of the best positioned players in our universe and offers a compelling risk/reward which will only be further enhanced by a strong balance sheet."
Brean maintains FY13 EPS of $3.50 and introduces FY14 at $3.90.
For an analyst ratings summary and ratings history on Guess click here. For more ratings news on Guess click here.
Shares of Guess closed at $35.94 yesterday.
Brean analyst says, "We believe, after a tough FY12, that GUESS? is poised to shine in FY13, especially after a 1Q which will be dragged down by one time strategy shifts. We believe, with the domestic unit increasingly looking like a material turnaround candidate, and the company’s strong denim position marking them as a material beneficiary from the decline in cotton prices, that GUESS? has the firepower to offset what should be a lackluster year in Europe and beat tepid expectations. As such, we believe GUESS? remains one of the best positioned players in our universe and offers a compelling risk/reward which will only be further enhanced by a strong balance sheet."
Brean maintains FY13 EPS of $3.50 and introduces FY14 at $3.90.
For an analyst ratings summary and ratings history on Guess click here. For more ratings news on Guess click here.
Shares of Guess closed at $35.94 yesterday.
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