Markets & Finance

Piper Jaffray Upgrades Guess

Piper Jaffray upgrades Guess Inc. (GES) to outperform from market perform.

Analyst Jeffrey Klinefelter says he believes there will be several catalysts for Guess in coming months. He thinks Guess retains a substantial mindshare in denim, during this very strong denim cycle.

He believes the company will benefit from a full year of premium Marciano product in its stores. He thinks with a negative pre-announcement in November, lackluster December sales expectations are already priced into the stock, and Guess is a compelling value at these levels.

Klinefelter sees 81 cents 2005 earnings per share. He maintains his $16 price target.

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