Mizuho Securities Downgrades Express Inc. (EXPR) to Neutral
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Mizuho Securities downgraded Express Inc. (NYSE: EXPR) from Buy to Neutral with a price target of $10.00 (from $15.00).
Analyst Betty Chen comments "...we question the pace of turn in 2H amidst traffic woes and heightened competition. While we acknowledge the stock is now trading near its 5-yr avg trough multiple of 11.6x, we expect shares to remain range-bound until there is visibility on a positive catalyst."
Shares of Express Inc. closed at $9.51 yesterday.
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