Ladenburg Keeps 'Buy' on Factory 2-U
Ladenburg reiterated its near and long-term buy on Factory 2-U Stores (FTUS ).
Analyst Eric Beder says April same store sales are in line with the company's preannouncement. He expects higher comp-store sales when the weather pattern shifts. He thinks this is a very clean story. He likes the company's unique concept: it operates off-price retail stores.
Shares are trading below 13 times his $2.17 fiscal 2002 (Jan.) EPS estimate. With expected 20%-25% top and bottom line growth, Beder believes shares are undervalued. He has a $40 12-month target.
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