Wedbush Upgrades Talbots (TLB) to Neutral; Stakeholders Will Likely Support Sycamore's Acquisition Offer
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Price: $2.76 --0%
Rating Summary:
2 Buy, 8 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
Rating Summary:
2 Buy, 8 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
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Wedbush upgraded Talbots (NYSE: TLB) from Underperform to Neutral, price target raised from $1.50 to $3.00.
Wedbush analyst said, "We are upgrading shares of TLB following the announced offer by Sycamore to acquire all outstanding shares of TLB (Sycamore already owns ~9.9%) for $3 cash per share. Given our expectations that a deal will likely be completed (particularly as Sycamore
expressed a willingness to increase the bid should management provide
additional financial information), we are changing our rating. With shares
dipping 18% on 11/30/11 following lackluster Q3 results and indications of a
“challenged” holiday season, coupled with the announced retirement of CEO
Trudy Sullivan on 12/5/11, we believe the Board of Directors along with major
stakeholders will likely support the deal that presents a significant premium."
For an analyst ratings summary and ratings history on Talbots click here. For more ratings news on Talbots click here.
Shares of Talbots closed at $1.56 yesterday.
Wedbush analyst said, "We are upgrading shares of TLB following the announced offer by Sycamore to acquire all outstanding shares of TLB (Sycamore already owns ~9.9%) for $3 cash per share. Given our expectations that a deal will likely be completed (particularly as Sycamore
expressed a willingness to increase the bid should management provide
additional financial information), we are changing our rating. With shares
dipping 18% on 11/30/11 following lackluster Q3 results and indications of a
“challenged” holiday season, coupled with the announced retirement of CEO
Trudy Sullivan on 12/5/11, we believe the Board of Directors along with major
stakeholders will likely support the deal that presents a significant premium."
For an analyst ratings summary and ratings history on Talbots click here. For more ratings news on Talbots click here.
Shares of Talbots closed at $1.56 yesterday.
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