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Wedbush Maintains a 'Neutral' on Guess (GES); Adjusting Estimates & PT After Guidance Misses Consensus

March 15, 2012 9:38 AM EDT
Get Alerts GES Hot Sheet
Price: $31.47 +0.87%

Rating Summary:
    4 Buy, 9 Hold, 5 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 13 | Down: 11 | New: 11
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Wedbush maintains a 'Neutral' on Guess (NYSE: GES) price target lowered from $31 to $29.

Wedbush analyst said, "With continued weakness in Italy (~20% of sales), modest improvements in NA retail (-MSD comps QTD) coupled with substantial advertising investments TY, management guided to below consensus guidance for Q1 and F12. While the company possesses LT growth opportunities in Northern & Eastern Europe along with Asia, we believe the current austerity plans impacting Italy could persist through F12. Moreover, NA Retail appears to be struggling to drive traffic and conversion at full price, with positive comps possibly not visible until H2 vs. prior expectations of Q2. Asia remains a bright spot."

Wedbush lowers Q1 from $0.49 to $0.26, FY12 EPS estimate from $3.25 to $2.60, maintains FY13 at $3.15.

For an analyst ratings summary and ratings history on Guess click here. For more ratings news on Guess click here.

Shares of Guess closed at $36.70 yesterday.


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Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change