William L. Moore
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William L. Moore in Insider trading,

Analysts At UBS Want Off The Express Train, Downgrade To Sell

UBS downgraded Express, Inc. to Sell from Neutral and slashed the price target by $6 to $10, saying EPS risk is skewed to the downside on deteriorating traffic, weaker same store sales trends, product issues and potential margin pressures.

"While EXPR believes its merchandise will be in a better position in 4Q/early '17, we didn't hear a clear diagnosis of product issues other than the consumer being confused by too much choice in 2Q. And guidance for traffic to remain a headwind through 4Q left us concerned that fixing the product issue could take more than 1-2 qtrs," analyst Michael Binetti wrote in a note.