Jefferies Reiterates Buy on Guess

Jefferies is out with its report today on Guess GES, reiterating Buy. In its report, Jefferies writes, "We actually expect 2Q results to come in OK and think GES is likely to post an EPS beat. We expect that the company's N.A. biz saw better results in 2Q as it benefited from improving sales trends in the US. This stabilization in the topline is coupled with easier margin compares which should help drive results in 2H. We continue to like the global growth story here and reiterate our Buy rating." Jefferies maintains a $62 PT on GES. Shares of GES closed Monday at $31.54, up 4.02% from Friday's close.