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Quiksilver outlook raised by Wall Street Firm
June 08, 2009 10:07 AM
A Wall Street firmed doubled its share price target for Quiksilver this morning, to $6 from $3. Lazard's improved outlook for Quiksilver sent the company's shares up 6 percent to $3.71 in early morning trading.
The firm believes more cost cuts could lead to raised earnings estimates for Quiksilver. Also, Quiksilver may not have to sell any assets if it was able to refinance its debt, Lazard believes.
Bob McKnight addressed a new round of cost cuts in his speech at UCI that was covered by Shop-eat-surf in our Executive Edition.
Here is a story from Reuters about Lazard's improved outlook for Quiksilver.
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