Regis Corporation (RGS) PT Raised to $17 at Jefferies; Reiterates Buy

Jefferies raised its price target on Regis Corporation (NYSE: RGS) to $17.00 (from $15.00) while maintaining a Buy rating following the announced sale of the NA Premium business and International portfolio. The reduction of ~1,100 company-owned salons allows Regis to focus on the NA Value segment.

Analyst Stephanie Wissink expects a minor and potential one time impact in FY18 Q1 for RGS store exposure to hurricane areas. Based on average store productivity, if all these stores were fully closed for 2 weeks Jefferies estimates a $2.5M hit to revenues.

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