UBS Maintains a 'Neutral' on Saks Inc. (SKS); Bumping Numbers After Q2 Results

UBS maintains a 'Neutral' on Saks Inc. (NYSE: SKS) price target of $12.00 (from $11.00).

Analyst, Michael Binetti, said, "We are raising our ‘12E EPS to $0.51 from $0.46—reflecting a $0.03 beat and lowered share count in 2Q. We are raising our 3Q est to $0.13 from $0.12 based on lower shares (was 198.5m, now 194m) but lowering our GM forecast (to flat YOY vs +10bp previously). Our ’12 est is based on 5.6% & 4.8% SSS growth in 3Q & 4Q."

Remain Neutral on more balanced risk/reward.

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

Shares of Saks Inc. closed at $11.52 yesterday.

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