- Wells Fargo adjust estimates on a number of retail and softlines stocks to reflect the positive early reads on the recovery trajectory against near-term headwinds like European lockdowns and L.A./Long Beach port congestion.
- On Capri (NYSE:CPRI) rated Overweight: "Raising FY22/FY23 EPS estimates to $3.64/$4.10 (from: $3.52 & $4.00) driven primarily by increased confidence in Versace's growth prospects. We also raise our PT to $65 (from $60) - reflecting an EBITDA multiple of ~10x on our CY22 estimates."
- On Burlington Stores (NYSE:BURL) rated Overweight: "Raising FY21/FY22 EPS estimates to $7.00/$9.25 driven primarily by updates following the filing of the company's 10-K. Maintaining our $320 PT."
- On Carter's (NYSE:CRI) rated Equal-weight: "Raising our FY21/FY22 EPS estimates to $4.78/$5.50 (from $4.70 & $5.38) driven primarily by adjustments to our store opening/closing forecasts. Maintaining our $85 PT."
- On Signet (NYSE:SIG) rated Underweight: "Raising FY22/FY23 EPS estimates to $4.14/$3.82 driven by updates following the filing of the company's 10-K. Maintaining our $50 PT."
- On TJX Companies (NYSE:TJX) rated Overweight: "Lowering our FY22 EPS estimate to $2.85 (from: $2.90) due to a more conservative outlook on margins this FY. Our PT likewise comes down to $75 (previously $84)."
- Related ETF: SPDR S&P Retail ETF (NYSEARCA:XRT).
- See Seeking Alpha Quant Ratings across the consumer discretionary sector.