Piper Jaffray maintains its Overweight rating on shares of Zumiez, Inc. ZUMZ “following a day spent traveling with management.”
“We continue to believe the company is getting better in all areas of operations - from improving store productivity, buying key vendors, assorting product to the right stores, to investing in technology and people,” Piper Jaffray writes.
“As such, we reaffirm mid-teens sales and +20% EPS growth over the next two years and note every 100bps of comp above our current model for the full year is approximately $.03/shr. Given the strength of the current business and clear differentiation in the mall, we believe our estimates may prove conservative.”
Zumiez closed Wednesday at $29.06.
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