Roth Capital Assigns Buy On Cherokee, Raises PT To $22
In a research report issued today, Roth Capital analyst Dave King assigned a Buy rating on Cherokee (NASDAQ:CHKE) and raised his price target to $22 (from $20).
King wrote, “Drive In-Line Quarter EPS were a penny below but revenues matched estimates, as continued international growth offset domestic sales pressure amidst Target’s lingering issues. We like Cherokee’s unique brand licensing approach that allows it to leverage existing product and enhance brand DNA, without sacrificing much of the business model’s robust margins and cash flows. Shares trade at a seemingly unwarranted discount to other licensors due to management’s preference for organic growth over acquisition.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Dave King has a total average return of 3.7% and a 46.9% success rate. King is ranked #1466 out of 3279 analysts.