Brean Murray Carret Raises Price Target on Express (EXPR), Sees Consistant Growth Over Long-Term

Brean Murray Carret & Co. remains bullish on shares of Express Inc. (NYSE: EXPR) following the release of its Q3 results. The firm is reiterating its Buy rating on the shares and is increasing its price target from $26 to $29.

The company posted Q3 results which were above expectations as management continues to outperform market trends and conditions. The firm notes Express's ability to offer quality and fashionable at reasonable prices. The company's new marketing campaign continues to attract a wider range of customers.

Since management now tests 75 percent of all products, the company has been able to sell more products at full price and has tightened its inventory. Brean Murray Carret is really encouraged that the company's management team will be able to consistently grow earnings over the long.

For FY11 and FY12, the firm is increasing its EPS estimates from $1.63 and $1.93 to $1.65 and $1.95. Management increased its FY11 EPS guidance from $1.57-$1.63 to $1.61-$1.65.

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 $22.69 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Goldman Sachs on Meta Platforms Inc. (META): 'We expect investors to have an initial negative reaction'
• ProPetro Holding (PUMP) Increases Share Repurchase Authorization to $200 million
• RBC Capital Comments on Meta Platforms Inc. (META) Earnings