Mizuho Securities Remains Sidelined on Francesca's (FRAN) Following 1Q Results
Mizuho Securities maintained a Neutral rating and $11.00 price target on Francesca's Holdings (NASDAQ: FRAN) following the company's 1Q earnings report. FRAN reported 1Q EPS of $0.18 vs. $0.17 LY on already reported comps of +2%.
Analyst Betty Chen commented, "Although we are impressed with management’s outlined strategies to restore same store sales growth and margins, we believe the traffic challenges plaguing apparel retailers may remain an overhang, especially given FRAN’s relatively nascent eCommerce business. We continue to see improving product both instores and online and believe the new CMO will accelerate the changes. The better than feared guide will likely support the stock’s discounted valuation though tougher 2H compares may keep shares range bound pending evidence of earnings upside or rebound in FY17."
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Shares of Francesca\'s Holdings closed at $10.44 yesterday.