Barclays Maintains an 'Overweight' on Express Inc. (EXPR); Meetings with EXPR Management
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Price: $0.83 --0%
Rating Summary:
7 Buy, 9 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
Rating Summary:
7 Buy, 9 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
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Barclays maintains an 'Overweight' on Express Inc. (NYSE: EXPR) price target of $25.00.
Barclays analyst says, "Yesterday we hosted a non-deal road show for EXPR. In attendance from the company were Michael Weiss, President & CEO, Matt Moellering, EVP & Chief Operating Officer, and Paul Dascoli, Chief Financial Officer. Key points from the meetings were as follows: 1. CURRENT BUSINESS SOUNDS STRONG. While there was no discussion of current comp trends, our sense is that the EXPR business continues to be quite good. We feel EXPR is likely tracking above its +MSD comp guidance. And we note that unlike many in the industry, EXPR did not experience a slowdown in trend in late July/early August. CEO Michael Weiss spoke about how wonderful it is when fashion trends intersect with a brand/store. That is where EXPR is now, and the current fashion trends are feeding into EXPR's strength...2. STILL CALLING FOR 50 BASIS POINT HIT TO Q3 GROSS MARGIN FROM FABRIC CANCELLATIONS. Overall EXPR is calling for a flattish gross margin in Q3 and modest appreciation in Q4, both of which we think should prove conservative should the tone of business continue."
For more ratings news on Express Inc. click here and for the rating history of Express Inc. click here.
Shares of Express Inc. closed at $22.25 yesterday.
Barclays analyst says, "Yesterday we hosted a non-deal road show for EXPR. In attendance from the company were Michael Weiss, President & CEO, Matt Moellering, EVP & Chief Operating Officer, and Paul Dascoli, Chief Financial Officer. Key points from the meetings were as follows: 1. CURRENT BUSINESS SOUNDS STRONG. While there was no discussion of current comp trends, our sense is that the EXPR business continues to be quite good. We feel EXPR is likely tracking above its +MSD comp guidance. And we note that unlike many in the industry, EXPR did not experience a slowdown in trend in late July/early August. CEO Michael Weiss spoke about how wonderful it is when fashion trends intersect with a brand/store. That is where EXPR is now, and the current fashion trends are feeding into EXPR's strength...2. STILL CALLING FOR 50 BASIS POINT HIT TO Q3 GROSS MARGIN FROM FABRIC CANCELLATIONS. Overall EXPR is calling for a flattish gross margin in Q3 and modest appreciation in Q4, both of which we think should prove conservative should the tone of business continue."
For more ratings news on Express Inc. click here and for the rating history of Express Inc. click here.
Shares of Express Inc. closed at $22.25 yesterday.
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