Chico's, Inc. (CHS) PT Lowered to $10 at UBS; Reiterates Neutral
UBS lowered its price target on Chico's, Inc. (NYSE: CHS) to $10.00 (from $16.00) while maintaining a Neutral rating. CHS reported 1Q EPS of $0.26 compared to the Street's $0.29 estimate. SSS missed significantly at -8.7% compared to the Street's -2%.
UBS lowed FY17 EPS estimates to $0.80 from $0.92. For 2Q UBS is forecasting -7% SSS, -25bp of GM compression, and $0.24 in EPS (previously $0.28).