Guess (GES) PT, Estimates Lowered at BofA/Merrill Lynch

BofA/Merrill Lynch analyst Robert Ohmes reiterated an Underperform rating on Guess (NYSE: GES) and cut his price target to $23.00 (from $25.00) as tight expenses offset gross margin weakness.

The firm lowered 2Q15 EPS to $0.29 (was $0.38) reflecting updated guidance for $0.25-$0.30 due to ongoing weakness in North American retail and European wholesale. F15 EPS is lowered to $1.50 (was $1.55) reflecting 2Q guidance and in-line with re-affirmed F15 guidance of $1.40-$1.60.

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 $26.88 yesterday.

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