Jefferies Skullcandy (SKUL) Is "Still Candy" Despite Lackluster Q3, Outlook
Jefferies cut numbers on Skullcandy (NASDAQ: SKUL) post Q3 results and weaker outlook, but is sticking by its 'Buy' rating.
The analyst comments: "SKUL posted in line 3Q results but trimmed its FY EPS outlook based on weaker than expected 4Q margins. On the bright side, the sales outlook was maintained as the company continues to see good topline momentum driven by higher ASPs and international. We continue to like SKUL for its powerful brand and long term growth opportunities."
The price target was cut from $20 to $17. Q4 EPS was cut from $0.60 to $0.47, FY12 from $1.15 to $1.00 and FY13 from $1.38 to $1.15.
For an analyst ratings summary and ratings history on Skullcandy click here. For more ratings news on Skullcandy click here.
Shares of Skullcandy closed at $11.71 yesterday, with a 52 week range of $11.52-$19.75.
The analyst comments: "SKUL posted in line 3Q results but trimmed its FY EPS outlook based on weaker than expected 4Q margins. On the bright side, the sales outlook was maintained as the company continues to see good topline momentum driven by higher ASPs and international. We continue to like SKUL for its powerful brand and long term growth opportunities."
The price target was cut from $20 to $17. Q4 EPS was cut from $0.60 to $0.47, FY12 from $1.15 to $1.00 and FY13 from $1.38 to $1.15.
For an analyst ratings summary and ratings history on Skullcandy click here. For more ratings news on Skullcandy click here.
Shares of Skullcandy closed at $11.71 yesterday, with a 52 week range of $11.52-$19.75.