Lazard Capital Maintains “Buy” Rating On Quiksilver, Reduces Target Price
josh hunter
- March 12 2009
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- 1 comment
Analysts at Lazard Capital maintain their “buy” rating on Quiksilver Inc (ZQK), while reducing their estimates for the company. The target price has been reduced from $6 to $3.
In a research note published this morning, the analysts mention that the company is expected to improve its capital structure by restructuring its debt or selling off one of its brands. Although Quiksilver’s core brands remain fundamentally strong and intact, the company’s near-term results may be hit by declining revenues, the analysts add. The EPS estimate for F2009 has been reduced from $0.40 to $0.24.
Source: newratings.com
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March 18th, 2009 at 11:58 am
I had stock when it was at $15 or so. Glad I sold it when it hit $12. I had a funny feeling then. I went with my gut and did not incur a great loss. The stock is wavering today at $1 something or less. And a B- rating at that! I made a good move…