In a report released today, Susan Anderson from B.Riley FBR reiterated a Buy rating on Guess (NYSE: GES), with a price target of $29. The company’s shares closed yesterday at $21.49.
Anderson noted:
“We hosted two days of meetings for institutional clients with members of the Guess?, Inc. (GES) management, including CFO Sandeep Reddy and VP of Investor Relations Fabrice Benarouche. Meetings were upbeat and we believe management is executing across their strategy, including continued improvement in North America and expanding international penetration. Management is also seeing better consumer response to new product launches and we believe the brand should get a further boost from new collaborations with Pacsun that highlight Guess’s deep vintage catalog. Trends continue to be positive in 2Q for both international and the Americas. We believe there is a high probability GES returns to profitability in the Americas in 2018. We reiterate our Buy rating and $29 price target.”
According to TipRanks.com, Anderson is a 4-star analyst with an average return of 6.0% and a 56.7% success rate. Anderson covers the Services sector, focusing on stocks such as Lululemon Athletica Inc, Ascena Retail Group, and Abercrombie Fitch.
Guess has an analyst consensus of Moderate Buy, with a price target consensus of $26.
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Based on Guess’ latest earnings release for the quarter ending April 30, the company reported a quarterly GAAP net loss of $21.42 million. In comparison, last year the company had a GAAP net loss of $21.49 million.
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Guess?, Inc. engages in designing, marketing, distributing and licensing of contemporary apparel and accessories for men, women and children that reflect the American lifestyle and European fashion sensibilities. It operates through the following segments: Americas Retail, Americas Wholesale, Europe, Asia, and Licensing.
