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Adjusting Entry Target For Rue21
With Rue21's (RUE) latest earnings report, EPS for the trailing 12 months have risen to $1.69 from $1.63. In this article, I set an entry target of $23.76 using my Deep Discount Strategy. The change in EPS has caused my target entry point to increase, and I am now planning to initiate a position at a new target of $24.63, which is 8.4% below today's closing price of $26.88.
Although same store sales disappointed in yesterday's earnings report, I am still confident in the growth prospects of this company and still believe this is an excellent opportunity to invest.
Disclosure: I am long RUE.