UPDATE: Goldman Sachs Lowers PT on Aeropostale to $18

Goldman Sachs is out with its report today on Aeropostale ARO, lowering its PT from $20 to $18. In a note to clients, Goldman Sachs writes, "Based on lower sales and margins, we lower our 2011/2012/2013 EPS to $1.57/1.87/2.13 from $1.83/2.11/2.36. Based on lower forecasts, we lower our 6-month price target to $18 from $20 (still based on 10X PE, or $17, weighted at 85%, and an LBO valuation of $26 weighted at 15%)." Shares of ARO closed Thursday at $21.34, down 0.51% from Wednesday's close.