Soleil Securities Upgrades Charming Shoppes (CHRS) to Buy; Early-Stage Turnaround

Soleil Securities upgraded Charming Shoppes (NASDAQ: CHRS) from Hold to Buy. PT increased from $3.50 to $5.50.

Soleil analyst says, "Lane Bryant has now posted 3 consecutive positive comp quarters, each stronger than the last. Q4 comp was +11% for the division and 9% for the 3 divisions combined...Management succession issue is no longer overhanging the business. Appointments of Anthony Romano, CEO, and Brian Woolf, Group President Lane Bryant, demonstrate vote of confidence by Board...FY12 EPS estimate increased to $0.25 from $0.05."

For more ratings news on Charming Shoppes click here and for the rating history of Charming Shoppes click here.

Shares of Charming Shoppes closed at $3.47 yesterday.

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