Looks like it is going up again as per the trend you noted. Based on this upgrade.
Ahead of the Bell: Coldwater Creek
Wednesday April 4, 8:18 am ET
Banc of America Securities Lifts Coldwater Creek, Likes Stock Price and Growth Prospects
NEW YORK (AP) -- A Banc of America Securities analyst lifted her rating on clothing retailer Coldwater Creek Inc., citing a recent fall in share price, improving traffic trends and long-term growth prospects.
Analyst Amy W. Noblin boosted Coldwater to "Buy" from "Neutral," noting a 35 percent decline in the stock price from a November high. She raised her target price to $26 from $18.
In addition, the company is seeing more customer traffic, attracted by updated summer merchandise, which could contribute to a first-quarter earnings beat if it continues, Noblin wrote.
Recent missy clothing sector weakness hurt Coldwater Creek, but the company held up better than competitors, while its long-term prospects for growth remain strong, the analyst said.
"CWTR has proven not to be immune to the weak traffic levels in the missy channel, which we think has been driven by a lack of overall excitement in apparel and the department stores taking back some share," wrote Noblin.
Upcoming catalysts include new store openings, direct sourcing initiatives, and growing market share due to new marketing programs, the analyst said.
Coldwater rose $2.47, or 12 percent, to $22.97 in premarket trading
Regards
Neil |
