Nomura Securities raises Price Target on Francesca's (FRAN) to $16 Following 2Q
Nomura Securities reiterated a Buy rating on Francesca's Holdings (NASDAQ: FRAN), and raised the price target to $16.00 (from $14.00), following the company's 2Q earnings report.
Analyst Simeon Siegel commented, "FRAN’s 2Q beat and 3Q above St guide pushed it back to the positive side of the performance seesaw. Although this is clearly a step in the right direction and mgmt’s confidence in the recovery was evident on the call, the 4Q compare is difficult to ignore, and we will continue to monitor traffic trends leading up to 4Q15’s 7% transaction increase. To that end, we raise our estimates but toward the low end of the adjusted guide $0.95 (excluding the 3¢ CEO resignation benefit), and we raise our TP to $16."
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Shares of Francesca\'s Holdings closed at $14.97 yesterday.