Jefferies Cuts Price Target on Tailored Brands (TLRD) to $14 After Missing 1Q EPS
Jefferies maintained a Hold rating on Tailored Brands (NYSE: TLRD), and cut the price target to $14.00 (from $17.00), following the company's 1Q earnings report. TLRD reported EPS at 29c, missing the consensus estimate of 44c.
Analyst Edward Plank commented, "TLRD's top and bottom-line miss on 1Q were disappointing, but not disastrous considering the retail backdrop. MW comps slipped negative but positively rebounded in 2Q, and JOSB, though negative, continues to make sequential SSS improvements. However, volatility and low visibility remain issues. Until we see real traction develop, it's difficult to argue a more constructive case on the turnaround potential. Maintain Hold, PT to $14."
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Shares of Tailored Brands closed at $12.34 yesterday.