Jefferies Maintains a 'Buy' on Guess (GES); Blindsided By Marketing; Buy on Pullback
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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: 6 | New: 26
Rating Summary:
4 Buy, 9 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
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Jefferies maintains a 'Buy' on Guess (NYSE: GES) price target cut from $55 to $50.
Analyst, Randal J. Konik, said, "4Q wasn't great, neither was the outlook. However the stock remains cheap, earnings expectations are now significantly lowered and we like the setup from here going fwd. The stock will likely be down today on the soft guidance, but we remain buyers on any weakness of this truly global brand that has great LT opportunities, a solid b/s and cash flows."
"While our FY'13 EPS forecast was above the Street, we think the buyside was estimating ~$2.85 and guidance of $2.50-2.65 came in below that. However a lot of it was driven by significantly increased marketing investments and unfavorable FX. While higher expenses obviously cause EPS downside, we like the LT impact which should help grow revenues at GES." (Jefferies lowers FY13 EPS estimate from $3.30 to $2.75)
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 $36.70 yesterday.
Analyst, Randal J. Konik, said, "4Q wasn't great, neither was the outlook. However the stock remains cheap, earnings expectations are now significantly lowered and we like the setup from here going fwd. The stock will likely be down today on the soft guidance, but we remain buyers on any weakness of this truly global brand that has great LT opportunities, a solid b/s and cash flows."
"While our FY'13 EPS forecast was above the Street, we think the buyside was estimating ~$2.85 and guidance of $2.50-2.65 came in below that. However a lot of it was driven by significantly increased marketing investments and unfavorable FX. While higher expenses obviously cause EPS downside, we like the LT impact which should help grow revenues at GES." (Jefferies lowers FY13 EPS estimate from $3.30 to $2.75)
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 $36.70 yesterday.
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