Prudential Raises Chico's Price Target
Prudential raises Chico's FAS (CHS ) target price and reiterates the stock at overweight.
Analyst Stacy Pak says the company's 26 cents first-quarter earnings per share was above her estimate and her consensus estimate of 25 cents.
She notes May comparable sales are currently running in the low double-digit range. She says inventories were high at the end of the quarter, but already better.
Pak tweaks her $1.00 fiscal 2006 (ending January) earnings per share estimate to $1.03, and $1.20 fiscal 2007 earnings per share estimate to $1.21. She raises her $30 stock price target to $39.
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