Express' Incremental Cost Savings Efforts To Drive Profitability & Cash Flow: Analyst Boosts Price Target Ahead Of Q2 Results
Portfolio Pulse from Nabaparna Bhattacharya
Telsey Advisory Group analyst Dana Telsey has reiterated a High Risk rating on Express, Inc. (NYSE:EXPR), raising the price target to $20 from $2. The company is expected to report 2Q23 results on September 6. The analyst expects Q2 EPS of ($11.11), adjusted for the reverse stock split, and a sales decline of 5.2% Y/Y to $441 million. The company is taking an aggressive approach to reduce costs with $80 million in savings in FY23, a $30 million workforce reduction, and gross margin efforts. However, the analyst maintains the High Risk rating due to the competitive retail environment and margin pressure.
August 31, 2023 | 5:54 pm
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Express, Inc. has been given a High Risk rating by Telsey Advisory Group, with a raised price target of $20. The company is expected to report a Q2 EPS of ($11.11) and a sales decline of 5.2% Y/Y to $441 million. Despite aggressive cost-cutting measures, the company faces a competitive retail environment and margin pressure.
The analyst from Telsey Advisory Group has reiterated a High Risk rating on Express, Inc., indicating uncertainty about the company's future performance. Despite aggressive cost-cutting measures, the company is expected to report a decline in sales and faces a competitive retail environment. This could potentially impact the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100