Sterne Agee Reiterates Neutral Rating on Christopher & Banks Corporations (CBK)

Sterne Agee reiterates Neutral Rating but is adjusting Price Target with a Low Valuation Noted on Christopher & Banks Corporations CBK. CBK current valuation appears to limit any downside with cash as a percentage of market value at 48% and its FCF yield well above their peer group. Sterne Agee are adjusting their target to $7 from $5.