Tilly’s Inc (NYSE:TLYS) shares rose nearly 13% in Wednesday’s trading session, after the clothes maker blew away expectations for its first-quarter earnings, posting revenue and EPS of $120.9 million and ($0.01), topping consensus’ estimates of $114.4 million and ($0.10), respectively. Looking forward, Tilly’s guided to 2Q17 EPS of $0.03 to $0.07, beating consensus estiamte of $0.02.

While the Street is enthused by the progress Tilly’s made in the past quarter, will the results be truly revolutionary for the company’s stock? Roth Capital analyst Dave King believes so. The analyst reiterates a Buy rating on the stock, with a price target of $12, which implies an upside of 24% from current levels.

King commented, “Results beat expectations on strong March/April trends, with positive momentum that continued into May. 2Q17 EPS guidance generally exceeded estimates and looks conservative given prospects for continued operating leverage. We reiterate our Buy to reflect TLYS’ attractive valuation, strong balance sheet, general focus on preserving product margins, and smaller B&M footprint relative to peers. New strategic initiatives continue to bear fruit and we are encouraged by management’s focus on ecommerce and willingness to close stores in the current environment.”

As usual, we recommend taking analyst notes with a grain of salt. According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Dave King has a yearly average return of -12.5% and a 35% success rate. King has a 14.3% average return when recommending TLYS, and is ranked #4485 out of 4560 analysts.

Out of the 3 analysts polled by TipRanks (in the past 12 months), 2 rate Tilly’s stock a Buy, while 1 rates the stock a Hold. With a return potential of 21%, the stock’s consensus target price stands at $11.67.