Piper Jaffray Maintains Neutral on Aeropostale

Piper Jaffray is out with its report today on Aeropostale ARO, maintaining Neutral. In its report, Piper Jaffray writes, "While the company has added more color and a higher fashion content to its new merchandise, we believe strategic promotions at competitors will drive additional share losses through the remainder of the FY12 and into FY13. Our price target remains $12 based on 9x FY13E EPS of $1.30." Shares of ARO closed Thursday at $12.49, down 2.35% from Wednesday's close.