Nomura Securities Downgrades Ann Inc. (ANN) to Neutral
Tweet
Share
E-mailGet Alerts ANN Hot Sheet
Price: $44.89 --0%
Rating Summary:
4 Buy, 15 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 20 | Down: 26 | New: 4
Rating Summary:
4 Buy, 15 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 20 | Down: 26 | New: 4
Join SI Premium – FREE
Nomura Securities downgraded Ann Inc. (NYSE: ANN) from Buy to Neutral but raised its price target from $35 to $38.
Analyst Paul Lejuez comments, "For a long time, the market has failed to appropriately consider the earnings upside if Loft and Ann Taylor Stores (ATS) were to get it right at the same time. With 2Q performance demonstrating both can work, we believe the idea that the divisions can work at the same time is now consensus. The new pricing strategy at ATS of investing in more products at opening (lower) price points is working (as 2Q showed to a small degree), however, September product resonated as well as it could have. We are raising our TP from $35 to $38 to reflect both divisions getting on the right path longer term. Our TP represents 14x and 6.0x our F13E EPS of $2.69 and EBITDA of $300MM, respectively."
1Q12E EPS at $0.58; 2Q12E EPS at $0.36; 3Q12E EPS at $0.76; 4Q12E EPS at $0.31; FY12E EPS at $2.3; FY13E EPS at $2.69.
For an analyst ratings summary and ratings history on Ann Inc. click here. For more ratings news on Ann Inc. click here.
Shares of Ann Inc. closed at $37.38 yesterday.
Analyst Paul Lejuez comments, "For a long time, the market has failed to appropriately consider the earnings upside if Loft and Ann Taylor Stores (ATS) were to get it right at the same time. With 2Q performance demonstrating both can work, we believe the idea that the divisions can work at the same time is now consensus. The new pricing strategy at ATS of investing in more products at opening (lower) price points is working (as 2Q showed to a small degree), however, September product resonated as well as it could have. We are raising our TP from $35 to $38 to reflect both divisions getting on the right path longer term. Our TP represents 14x and 6.0x our F13E EPS of $2.69 and EBITDA of $300MM, respectively."
1Q12E EPS at $0.58; 2Q12E EPS at $0.36; 3Q12E EPS at $0.76; 4Q12E EPS at $0.31; FY12E EPS at $2.3; FY13E EPS at $2.69.
For an analyst ratings summary and ratings history on Ann Inc. click here. For more ratings news on Ann Inc. click here.
Shares of Ann Inc. closed at $37.38 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Shopify (SHOP) PT Raised to $180 at Canaccord
- Charles River Labs (CRL) PT Raised to $300 at Evercore ISI
- Stoneridge (SRI) Tops Q2 EPS by 10c ; Offers Guidance
Create E-mail Alert Related Categories
Analyst PT Change, DowngradesRelated Entities
Nomura, EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
