Chico’s FAS (CHS) Gets a Buy Rating from B.Riley FBR


B.Riley FBR analyst Susan Anderson reiterated a Buy rating on Chico’s FAS (NYSE: CHS) today and set a price target of $12. The company’s shares opened today at $8.48.

Anderson said:

“We are incrementally more confident in Chico’s (CHS) outlook after traveling for two days with management this week and visiting institutional investors. Management in attendance included CEO Shelley Broader, CFO Todd Vogensen and VP of Investor Relations Julie Lorigan. We believe management has been able to turn the corner at both WHBM and Soma as new product is gaining traction with the consumer, while Chico’s product is expected to improve during the Holidays as the new designer will have 100% penetration by then. We are impressed by early results from the company’s new distribution channels as well as the development in their omni-channel capabilities.”

According to TipRanks.com, Anderson is a 4-star analyst with an average return of 6.6% and a 53.0% success rate. Anderson covers the Services sector, focusing on stocks such as Lululemon Athletica Inc, Ascena Retail Group, and Abercrombie Fitch.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Chico’s FAS with a $12 average price target.

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Based on Chico’s FAS’s latest earnings release for the quarter ending July 31, the company reported a quarterly net profit of $16.32 million. In comparison, last year the company had a net profit of $22.18 million.

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Chico’s FAS, Inc. engages in the retail of private label women’s apparel, accessories and other non-clothing items. The firm’s product portfolio consists of the following brands: Chico’s, Soma, and White House Black Market. It also operates boutiques, retail stores and websites to sell the products. The company was founded by Helene B. Gralnick and Marvin L.

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