Pacific Sunwear Announces Second Quarter Operating Results; Issues Third Quarter Guidance; And Substantial Expense Reduction Initiative

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Go back to Pacific Sunwear Announces Second Quarter Operating Results; Issues Third Quarter Guidance; And Substantial Expense Reduction Initiative

Mizuho Securities remains Neutral on PacSun (PSUN) Following 2Q15 and CFO Departure

September 9, 2015 10:01 AM EDT

Mizuho Securities maintained a Neutral rating on Pacific Sunwear of California (NASDAQ: PSUN), and cut the price target to $0.50 (from $1.50), following the company's 2Q15 earnings report, and CFO departure. 2Q OpEPS of $(0.06) vs. $(0.03) LY was below consensus $(0.02).

Analyst Betty Chen commented, "We are... More