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Wachovia Lowers Aeropostale to 'Market Perform'

Wachovia downgraded Aeropostale (ARO) to market perform from outperform.

Analyst Joseph Teklits says though he continues to believe in the growth prospects of Aeropostale, he sees shares as vulnerable to significant comparison deceleration from July. Given that he believes the stock can trade up to $30-$33 in 9 to 12 months, he says the short term risk/reward profile is pushing him to a more neutral stance.

Teklits fears there's growing sentiment among investors that because comparison decelerated as fiscal 2003 progressed, they are easier in the second half of fiscal 2004. Teklits thinks other measures, likes sales per sqare foot, productivity history, and inventory commitments, need to be taken into account.

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