Citi Reiterates Buy and PT of $51 on Guess?

Citi reiterated its Buy rating on Guess? GES. At the same time, Citi left its price target on the company's stock unchanged at $51. In a research report published today, Citi states, "Accessories remain strong and key categories including premium denim continue to improve. Looking forward, prospects for better full priced selling in dresses and outerwear against a highly promotional 2H10 offers a buffer to rising input costs. We view our $3.20 estimate as conservative and reiterate our Buy and $51 PT." On Thursday, Guess? added 1.95% to its value to close the day at $40.76.