Express (EXPR) Fair Value Target Lifted to $20 at Janney Capital

Janney Capital analyst Adrienne Yih reiterated a Buy rating and raised her fair value target on Express Inc. (NYSE: EXPR) to $20.00 (from $15.00).

Yih commented, "1Q15QTD, EXPR returns to positive comps, merchandise margins expand due to lower promos, elimination of interest expense of ~$20 million, which increases annual EPS by ~$0.13. 4Q14 beats by $0.03, and guidance for 1Q15 is above the Street and conservatively “inline” for FY15. We reiterate our BUY given EPS upside potential due to: 1) positive comps driven by compelling product & emerging trends in their “sweetspot,” 2) accretive outlet & e-com growth; 3) improved inventory management; 4) earnings power lift from reduction in interest payments."

The firm is raising raising FY15 and FY16 EPS estimates to $1.09 from $0.89 (versus consensus of $0.99) and to $1.32 from $0.99 (versus consensus of $1.11), respectively.

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 $15.47 yesterday.

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