Janney Montgomery Scott Raises PT on Zumiez (ZUMZ) After Meeting With Management

Janney Montgomery Scott maintains a 'Neutral' on Zumiez, Inc. (NASDAQ: ZUMZ) price target raised from $26 to $30.

JMS analyst said, "On December 8, 2011, we visited ZUMZ at their headquarters in Everett, Washington. We met with Marc Stolzman, CFO and Secretary, and Brian Leith, Director of Finance and Investor Relations. We came away from the meeting with three key takeaways, 1) early season performance is encouraging and bodes well for a solid holiday season for ZUMZ, 2) the company continues to drive product margins higher despite cost inflation, suggesting their customer is more willing to pay a higher price for desirable branded product, and 3) Pacific Sunwear's (Nasdaq: PSUN) recently announced 200 store closures create opportunity for ZUMZ. Thus far, the quarter is going well with positive momentum entering the critical part of the season, and, longer term, their most direct competitor continues to struggle with its product offering and is shrinking its footprint."

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

Shares of Zumiez, Inc. closed at $30.00 yesterday.

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