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Jefferies Reiterates Hold Rating On Ross Stores
Tuesday, August 16, 2011 - 8:40am | 75According to Jefferies, Ross Stores (NASDAQ: ROST) Hold rating is reiterated. Jefferies said that it expects strong 2Q results given the company's outperformance during monthly sales and upward guidance revisions. “Our $74 PT is based on average multiples (15x P/E and ~6x EV/EBITDA), in line with...
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UPDATE: Oppenheimer Reiterates Rating and PT on Urban Outfitters
Tuesday, August 16, 2011 - 8:30am | 78Oppenheimer has published a research report on Urban Outfitters (NASDAQ: URBN). In the report, Oppenheimer wrote, "Divisional comps: Urban 1%, Anthropologie flat and Free People 18%. GM decreased 460 bps to 37.9%. SG&A rose 30 bps to 23.5%. End-of-quarter inventories rose 25% (9% at cost),...
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Jefferies Reiterates Buy Rating On Abercrombie & Fitch
Tuesday, August 16, 2011 - 8:30am | 69According to Jefferies, Abercrombie & Fitch (NYSE: ANF) is expected to post OK 2Q results driven by solid top-line momentum. Jefferies said that it sees an accelerating US business, margin stabilization and international sales at a tipping point, all driving substantial sales, EPS and stock...
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Jefferies Reiterates Hold Rating On Chico's
Tuesday, August 16, 2011 - 8:25am | 70According to Jefferies, Chico's FAS (NYSE: CHS) has made much progress in fine tuning its business, with significant opportunity still ahead. Jefferies said that, while this stock is starting to look more attractive, it awaits an indication of sustainable sales growth and more visibility on...
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ISI Maintains Hold on Urban Outfitters
Tuesday, August 16, 2011 - 8:20am | 87ISI is out with its report today on Urban Outfitters (NASDAQ: URBN), maintaining Hold. In its report, ISI writes, "While so many people want to believe that URBN's turnaround is firmly on track, there weren't any definitive signs from last night's call that the company is poised to return to its...
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Jefferies Has Hold On Ann Taylor
Tuesday, August 16, 2011 - 8:14am | 107Jefferies & Co. is out with a research report on Ann Taylor (NYSE: ANN) and it has a Hold rating and a $26 price target on shares. In a note to clients, Jefferies & Co. writes, "We expect ANN to post in line 2Q results with solid sales gains and margin expansion. By brand, we expect Ann...
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Jefferies Reports No Expectations On The Gap
Tuesday, August 16, 2011 - 8:12am | 90According to Jefferies, the Gap (NYSE: GPS) has no expectations. Jefferies said that while business remains tough with added challenges from a weak macro economy, sourcing headwinds, and management changes, it thinks the bad news is already priced into the stock and positive catalysts could...
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Jefferies Reiterates Hold Rating On Limited Brands
Tuesday, August 16, 2011 - 8:09am | 68According to Jefferies, Limited Brands (NYSE: LTD) is expected to post another good quarter with strong sales and impressive margin expansion. Jefferies said that the company continues to deliver results with innovative products and marketing, while keeping operating expenses under tight control...
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Bank of America Merrill Lynch Has Buy On Urban Outfitters
Tuesday, August 16, 2011 - 8:02am | 189Bank of America Merrill Lynch is out with a research report on Urban Outfitters Inc (NASDAQ: URBN) after it reported earnings last night. It has a Buy rating and a $36 price target on shares. In a note to clients, Bank of America Merrill Lynch writes, "Urban Outfitters reported 2Q EPS of $0.35,...
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UPDATE: Wedbush Lowers Urban Outfitters Price Target To $30
Tuesday, August 16, 2011 - 8:01am | 93According to Wedbush, Urban Outfitters (NASDAQ: URBN) price target is lowered to $30. Wedbush said that it expects the stock to be under pressure on softer-than-expected Q3 gross margin guidance of down ~300 bp yoy (vs. consensus outlook of flattish) and indications of Anthro's sales slowdown in...
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Jefferies Upgrading Aeropostale
Tuesday, August 16, 2011 - 7:47am | 106Jefferies & Co. is out with a research report on Aeropostale (NYSE: ARO) and is upgrading shares to Hold from Underperform, but is keeping its price target at $12. In a note to clients, Jefferies & Co. writes, "Since the beginning of the year, ARO has played out to our thesis with...
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News Summary for August 16, 2011
Tuesday, August 16, 2011 - 7:44am | 642This is your Benzinga news summary and traders' outlook for Tuesday, August 16, 2011, covering headlines from overnight and Tuesday's pre-market session. Today in domestic pre-market trading, U.S. equity futures are trading lower. At last check, Dow futures are down over 100 points and the U.S....
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Benzinga's Top Pre-Market Losers
Tuesday, August 16, 2011 - 7:42am | 117Urban Outfitters Inc (NASDAQ: URBN) dipped 7.04% to $27.60 in the pre-market session. URBN reported a 21% decline in its profit for the fiscal second quarter. ITT Corporation (NYSE: ITT) moved down 4.26% to $44.97 in the pre-market session. ITT's trailing-twelve-month profit margin is 6.16%. NYSE...
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UPDATE: Jefferies Lowering Price Target On Foot Locker
Tuesday, August 16, 2011 - 7:40am | 127Jefferies & Co. is out with a research report on Foot Locker (NYSE: FL) and is lowering its price target to $22 from $25, but is keeping the Hold rating on shares. In a note to clients, Jefferies & Co. writes, "With shares down over 20% in the past month, we believe FL is set up well ahead...
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Morgan Stanley Comments On Urban Outfitters 2Q Results
Tuesday, August 16, 2011 - 7:40am | 73According to Morgan Stanley, Urban Outfitters (NASDAQ: URBN) reported 2Q EPS of $0.35, above the estimate of $0.33 and consensus at $0.32. Morgan Stanley said that gross margin (+1c), and SG&A forecast (+1c) drove the beat vs. the estimate. “We lower 3Q to $0.38 from $0.43 (GM to -300 bps from...