UPDATE: Wedbush Lowers PT On Guess? To $37

Wedbush Securities has published a research report on Guess? GES after the company reported reduced F11 Guidance that Wedbush believes could be indicative of a potential slowdown. In the report, Wedbush writes, "[W]hile we believe the strategy of focusing on gross margin recovery in NA is prudent, we believe investors may be concerned with the sales deceleration in H2 given the –LSD comp guidance for Q3 and F11." Wedbush maintains its Neutral rating but has lowered the price target on Guess? from $50 to $37. Guess? closed yesterday at $33.29.