Wedbush is Cautious on Express Inc. (EXPR) into Earnings
- Dow, S&P post worst week in months after hawkish Fed spooks investors
- Fed-fueled dollar rises as bears make for exits
- Adobe (ADBE) Edges Higher After Topping Q2 Estimates, Analysts Raise PT on 'Impressive' Performance
- Fed Statement Very Bullish for Tech Stocks, Focus on Cloud and Cyber Stocks - Wedbush
- You Fight Real Physical Inflation With Rate Hikes, Not Talk of Rate Hikes; Buy the Dip in Commodities, Gold Underpriced - Goldman Sachs
News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.
Wedbush analyst Jen Redding reiterated a Neutral rating and $1.50 price target on Express Inc. (NYSE: EXPR) after shares jumped150% in the last two trading days. The jump was on the heels of retails wider squeeze-play with most-shorted stocks up +14% versus least-shorted stocks +4% in the RUA index so far in 2021.
The analyst believes that this jump also conincides with an investor stampede following Will Meade's speculative tweet. The analyst stated "Meade's speculation pegs Express as the next GameStop, targeting Express shares at $10/share, based on Express's recently announced $140 million in financing from hedge fund Sycamore Partners and Wells Fargo, as well as the potential for a turnaround in the future".
Shares of Express Inc. closed at $3.78 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- $274M in Insider Sales from Previously 2nd Most Important Person at Tesla (TSLA) Should Raise Eyebrows - GLJ Research
- Yokohama Rubber Co (5101:JP) PT Raised to JPY2,300 at Morgan Stanley
- Bank of Georgia (BGEO:LN) (BDGSF) PT Lowered to GBP21.20 at Jefferies
Create E-mail Alert Related CategoriesAnalyst Comments
Related EntitiesEarnings, Wells Fargo
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!