Oppenheimer Reiterates Outperform and PT of 6.50 on New York & Company

Oppenheimer reiterated its Outperform rating on New York & Company NWY. At the same time, Oppenheimer left its price target on the company's stock unchanged at $6.50 after a meeting with the company's management. In a research report published today, Oppenheimer states, "We're very encouraged by its ongoing focus on both near- and longer-term goals, and believe it is still on-track with its multi-year turnaround. Importantly, despite the various headwinds impacting retail in 2H, we believe the business has been planned very conservatively and do not expect any significant hiccups. NWY remains one of our top picks and we would take advantage of recent weakness as a buying opportunity." On Tuesday, New York lost 0.23% of its value to close the day at $4.41.