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Brean Murray Ups Guess to Strong Buy


From Standard & Poor's Equity Research

Brean Murray upgraded Guess (GES) to strong buy, explaining that the company's May sales results beat estimates.

Guess recently posted 20% higher same-store sales in May.

Analyst Eric Beder says Guess is currently the most fashion-right player in his teen and specialty retailing universe. He says the company has continued to capitalize on strong denim trends, and remained one of few fashion players not to fall into the "black/white" monochromatic trap for spring. He thinks the company once again deserves a premium valuation and rating because it has a disciplined approach to discounting. He also thinks there's potential for even further upside from licensing and international operations. He raises his $1.81 2006 earnings per share (EPS) estimate to $1.88 and his $2.10 2007 estimate to $2.23. He also raises his $50 stock price target to $53.


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