Gymboree (GYMB)
Oppenheimer upgrades to outperform from perform
Oppenheimer analyst Robert Samuels upgraded Gymboree on Aug. 20, saying that its Crazy 8 clothing stores division could double its store base and become profitable in 2010. Samuels also said Gymboree "seems to now be toying with the idea of international expansion" for Crazy 8.
The company's strong balance sheet and good stock value are "too compelling to ignore," he said.
"The (back-to-school) season seems to be starting off strong and, in classic GYMB style, we expect that the company will continue to come up with innovative and creative ways to drive traffic and offer compelling promotions," Samuels said.
Samuels raised his 2009 profit estimate for the company to $3.31 per share and for 2010 to $3.70 per share. Analysts polled by Thomson Reuters expect profit of $3.25 in the year that ends in January and $3.54 in the year that ends January 2011.
0 comments:
Post a Comment