Oppenheimer reiterated its Outperform rating on New York & Company NWY. At the same time, Oppenheimer left its price target on the company's stock unchanged at $6.50 after a meeting with the company's management.
In a research report published today, Oppenheimer states, "We're very
encouraged by its ongoing focus on both near- and longer-term goals, and believe it
is still on-track with its multi-year turnaround. Importantly, despite the various
headwinds impacting retail in 2H, we believe the business has been planned very
conservatively and do not expect any significant hiccups. NWY remains one of our
top picks and we would take advantage of recent weakness as a buying
opportunity."
On Tuesday, New York lost 0.23% of its value to close the day at $4.41.
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Posted In: Analyst ColorAnalyst RatingsApparel RetailConsumer DiscretionaryNew York & CompanyOppenheimer
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