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Wedbush Morgan Raises Quicksilver Estimates

Wedbush Morgan ups estimates and target for apparel company Quiksilver (ZQK).

Analyst Vera Van Ert says the new guidance reflects outperformance in all three geographic regions, and faster-than-expected integration of DC Shoe, which it acquired earlier this year. She believes the company's impressive top- and bottom-line growth rates, and improving margins could drive higher stock price over the next 12 months.

Van Ert also cites the company's reputation for earnings consistency. She raises the company's $1.32 fiscal 2004 (Oct.) earnings-per-share estimate to $1.36, and $1.60 fiscal 2005 earnings-per-share estimate to $1.63. She boosts her $1.24 billion fiscal 2004 revenue estimate to $1.27 billion, and $1.40 bilion fiscal 2005 revenue estimate to $1.42 billion. She ups the company's $32 target to $33.

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