Wedbush Has Increased Confidence After a Visit to Express (EXPR) HQ; Reiterate Outperform

Wedbush reiterates an Outperform rating and $21.00 price target on Express Inc. (NYSE: EXPR) following meetings at EXPR HQ. Analyst Morry Brown continues to see upside opportunity for 2Q EPS and looks for improved consistency of results to push shares higher.

Brown commented, "We hosted meetings at EXPR headquarters with CEO David Kornberg and CFO Paul Dascoli. The executive team highlighted the well rounded composition of 1Q's beat (driven by strong SSS, positive gross margins and leveraging expenses) and was excited about current product as well as merchandising plans into early fall and BTS (including the Express One Eleven chain-wide launch and Karlie Kloss marketing campaign in July). The play book remains relatively simple - well controlled inventory, reduced promotional activity and better merchandise combine to drive higher full price sell through and improved margins. We continue to see upside opportunity for 2Q EPS and look for improved consistency of results to push shares higher from here."

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

Shares of Express Inc. closed at $18.37 yesterday.

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