Piper Jaffray Upgrades Guess (GES) to Overweight on Signs of European Stabilization

July 8, 2014 6:42 AM EDT
Get Alerts GES Hot Sheet
Price: $21.96 +0.73%

Rating Summary:
    5 Buy, 8 Hold, 5 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 18 | Down: 12 | New: 23
Trade Now! 
Join SI Premium – FREE

Piper Jaffray upgraded Guess (NYSE: GES) from Neutral to Overweight with a price target of $32.00 (from $25.00) following European channel checks.

Analyst Erinn Murphy commented, "Last week, we met with a number of industry contacts in the apparel & accessories space in Italy, including a guided store visit of the Guess flagship in Milan. Broadly speaking across our checks, we are hearing about improvements in European wholesale order flow for Spring 2015. While the season is still underway, trends are starting to inflect and we are hearing that the closures of the independents within the Italian wholesale channel are starting to base. With the
exception of France in which visibility remains cloudy, consumer confidence is building in the region and discretionary spending is improving. For GES, Europe represents approx. 35% of overall sales and Italy & Spain combined are 20%."

The firm raised FY 2014 EPS from $1.44 to $1.52 and FY 2015 EPS from $1.65 to $1.86.

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 $27.39 yesterday.



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Analyst Comments, Analyst EPS Change, Analyst PT Change, Hot Upgrades, Upgrades

Related Entities

Piper Jaffray