Friday, December 3, 2010

Express (NYSE:EXPR) Has Best Black Friday Ever

After posting the best numbers on Black Friday in their history, Express Inc. (NYSE:EXPR) was bumped up in EPS and PT by Susquehanna.

EPS estimates for full year 2011 were raised from $1.33 to $1.37, and for full year 2012 from $1.58 to $1.62.

Better guidance for the fourth quarter of 2010 and a solid EPS report from the third quarter are the major catalysts of the change.

The specialty retailer closed Thursday at $16.16, gaining $0.39, or 2.47 percent. Susquehanna increased their price target on them from $22 to $23.

Express also offered a one time dividend of $0.56 a share and slashed their debt close to $25 million. Susquehanna reiterates their "Positive" rating on the company.

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