Piper Jaffray Raises CACH PT to $7

Piper Jaffray has raised Cache Inc.'s CACH Price Target from $6 to $7. According to the report, "We are raising our price target to $7 and reiterating our Overweight rating on CACH shares following Cache's FQ4 report. Management guided above prior consensus estimates for FQ1 and FQ2 and our revised FY11 EPS estimate of $0.30 is substantially ahead of the prior consensus of $0.06. We favor CACH as our favorite micro-cap apparel stock and believe the shares offer an attractive risk/reward for investors looking to take an early swing at potential recovery ideas." CACH has an Overweight Rating and closed at $4.62 Friday.