Jefferies Favors Guess

Jefferies & Co. is out with a research report, and it favors retail names such as Guess Co. GES. It has a Buy rating and a $60 price target on shares. In a note to investors, Jefferies writes, "Guess remains one of our favorite names with its well positioned global portfolio, varied distribution channels, and compelling growth potential both domestically and internationally. Further, GES remains one of just a few global consumer discretionary names yet to play out favorably. We believe the biz has now reached stabilization and expect the stock to start heading higher in 2011. Meanwhile valuation remains attractive and we see favorable risk/reward. Reiterate Buy rating." Shares of GES lost $1.00 yesterday to close at $40.28.