Piper Jaffray Reduces Estimates On Aeropostale

According to Piper Jaffray, Aeropostale ARO Neutral rating is reiterated. Piper Jaffray said that it is reducing its estimates for Q2 and beyond following the company's negative pre-announcement yesterday. “Neutral Rating; Price Target of $12 based on 9x (unchanged) our FY13E EPS.” Aeropostale closed yesterday at $12.53.