Jefferies Maintains a 'Buy' on Quiksilver (ZQK); Current Portfolio is Undervalued
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Price: $0.46 --0%
Rating Summary:
1 Buy, 10 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 5 | New: 25
Rating Summary:
1 Buy, 10 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 5 | New: 25
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Jefferies maintains a 'Buy' on Quiksilver (NYSE: ZQK) price target of $4.00 (from $5.50).
Analyst, Taposh Bari, said, "At $2.50, we believe that Quiksilver's portfolio of globally recognized brands is undervalued. However, a strong valuation case has been overwhelmed by European exposure and takeout obstacles (30% interest by top shareholder). We expect ZQK to miss EPS when it reports 2Q Thursday (after-close) but believe the stock gets interesting in 2H as distribution growth and lower cotton costs drive accelerated EPS growth."
Bari slightly adjusts FY2 EPS estimate from $0.18 to $0.16 and FY13 from $0.34 to $0.33.
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 $2.58 yesterday.
Analyst, Taposh Bari, said, "At $2.50, we believe that Quiksilver's portfolio of globally recognized brands is undervalued. However, a strong valuation case has been overwhelmed by European exposure and takeout obstacles (30% interest by top shareholder). We expect ZQK to miss EPS when it reports 2Q Thursday (after-close) but believe the stock gets interesting in 2H as distribution growth and lower cotton costs drive accelerated EPS growth."
Bari slightly adjusts FY2 EPS estimate from $0.18 to $0.16 and FY13 from $0.34 to $0.33.
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 $2.58 yesterday.
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