Wedbush Starts Express Inc. (EXPR) at Neutral

May 10, 2018 4:10 PM EDT
Get Alerts EXPR Hot Sheet
Price: $1.33 -5%

Rating Summary:
    7 Buy, 9 Hold, 3 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 12 | Down: 16 | New: 15
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Wedbush initiates coverage on Express Inc. (NYSE: EXPR) with a Neutral rating and a price target of $9.00.

Analyst Jennifer Redding comments "Although express has had a rough few years with an unstablized earnings trend given increasing competitive pressures, we laud management initiatives and strategy and believe Express has opportunity to increase market share via multiple avenues of growth including ecommerce, social media positioning, and more stabilized fashion assortments.. Yet, Express has had a rough few years with an unstablized earnings trend, given increasing competitive pressures. According to our proprietary data work, it appears the promotional environment intensified in first quarter. Insights from our proprietary e-commerce data product, Wedbush Big Data, calls out a sharp increase in markdown rate, which we fear signals pressure to merchandise margin."

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 $8.38 yesterday.

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