Janney Montgomery Scott Reiterates a 'Buy' on New York & Co (NWY); Raising Estimates on Continued Turnaround Story
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Price: $3.50 --0%
Rating Summary:
3 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 20 | New: 20
Rating Summary:
3 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 20 | New: 20
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Janney Montgomery Scott reiterates a 'Buy' on New York & Co (NYSE: NWY) price target of $5.00.
Analyst, Adrienne Tennant, said, "NWY reported a 1Q12 breakeven EPS of $0.00 versus the Street at ($0.09). We had expected upside potential given ongoing product momentum we witnessed throughout the quarter. Superior product, driven by color, and a well-merchandised store environment drove the improvement.... We recommend accumulation of NWY as a turnaround story, with an attractive valuation of 0.2x EV/Sales on FY12 estimates compared to 0.3x EV/Sales for the Missy sector and our coverage sector at 0.9x EV/Sales. With increased visibility of a turnaround beginning in 1H12, we believe the risk/reward at current levels remains attractive and continue to recommend accumulation."
Tennant raises FY12 GAAP loss from (0.31) to (0.16) and FY13 from $0.07 to $0.11.
For an analyst ratings summary and ratings history on New York & Co click here. For more ratings news on New York & Co click here.
Shares of New York & Co closed at $3.37 yesterday.
Analyst, Adrienne Tennant, said, "NWY reported a 1Q12 breakeven EPS of $0.00 versus the Street at ($0.09). We had expected upside potential given ongoing product momentum we witnessed throughout the quarter. Superior product, driven by color, and a well-merchandised store environment drove the improvement.... We recommend accumulation of NWY as a turnaround story, with an attractive valuation of 0.2x EV/Sales on FY12 estimates compared to 0.3x EV/Sales for the Missy sector and our coverage sector at 0.9x EV/Sales. With increased visibility of a turnaround beginning in 1H12, we believe the risk/reward at current levels remains attractive and continue to recommend accumulation."
Tennant raises FY12 GAAP loss from (0.31) to (0.16) and FY13 from $0.07 to $0.11.
For an analyst ratings summary and ratings history on New York & Co click here. For more ratings news on New York & Co click here.
Shares of New York & Co closed at $3.37 yesterday.
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